BonTerra Resources Announces Closing of $250,000 Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/26/13 -- BonTerra Resources Inc. (TSX VENTURE: BTR)(OTCBB: BONXF)(FRANKFURT: 9BR) (the "Company" or "BonTerra") announces it has closed its non-brokered private placement announced by news release dated May 30, 2013 (the "Private Placement") for total gross proceeds of $250,000 by the issuance of 4,000,000 flow-through units (the "FT Units") at a price of $0.05 per FT Unit, and 1,000,000 non flow-through units (the "NFT Units") at a price of $0.05 per NFT Unit.
The FT Units are comprised of one flow-through common share and one-half of one common share purchase warrant (each whole warrant a "Warrant"). The NFT Units are comprised of one non flow-through common share and one-half of one Warrant. Each Warrant entitles the holder to purchase an additional non flow-through common share of the Company (a "Warrant Share") at a price of $0.10 per Warrant Share for a period of one year from the date of issue.
In connection with the Private Placement, the Company paid finder's fees consisting of cash fees totaling $22,500 (inclusive of legal and administrative fees of $5,650) and warrants to acquire 200,000 common shares of the Company at an exercise price of $0.10 per common share for a period of one year from the date of issue.
All securities issued under the Private Placement are subject to a four-month statutory hold period and resale restrictions under applicable securities legislation.
The proceeds from the FT Units will be used to conduct the exploration program on the Company's properties located in Quebec and the proceeds from the NFT Units will be used to seek out potential property ventures and for general working capital purposes.
About BonTerra Resources Inc.
BonTerra is a Canadian gold exploration company based in Vancouver, BC focused on continuing to expand the drill defined gold zones on its Eastern Extension Property (the "Property"), part of the world famous Abitibi Greenstone Belt in mining-friendly Quebec. BonTerra has a total of three gold properties in the Urban-Barry belt: the Eastern Extension, Lavoie and Urban-Barry Properties which are located approximately 170 km northeast of Vald'Or and approximately 125 km southwest of Chibougamau in the Urban, Barry and Bailly townships of Quebec.
The Company owns 100% of the Property subject to a 2% NSR which is held by three individuals. 1% of the NSR can be purchased for a sum of $500,000.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
Nav Dhaliwal, Chief Executive Officer
Neither TSX Venture Exchange nor its regulation service provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
BonTerra Resources Inc.
Nav Dhaliwal
(604) 678-5308 or Toll-Free: 1 (855) 678-5308
info@bonterraresources.com
www.bonterraresources.com