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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (50351)	10/24/2018 2:42:18 PM
From: Goose94	Read Replies (1) \| Respond to of 202930

BonTerra Resources (BTR-V) Upsized financing to $21.81 Million Oct 24, '18 - NR Bonterra Resources has entered into an amended agreement with Sprott Capital Partners to act as lead agent, on its own behalf and on behalf of a syndicate of agents, and has agreed to increase the private placement to raise gross proceeds of up to $21,817,100. As per the previous press release issued on October 15th, 2018, the Company will consolidate its outstanding common shares on the basis of ten (10) existing common shares for one (1) new common share (the "Consolidation") prior to closing of this Offering. Upon completion of the Consolidation and prior to closing of the Offering, the Company is expected to have 39,749,870 issued and outstanding common shares. No fractional shares will be issued. In addition, there will be no change in the Company's name or trading symbol. All securities issued under the Offering will be, and all prices in this release are, on a post-Consolidation basis. The Offering will now consist of a combination of (a) up to 3,443,500 common shares of the Company issued on a flow-through basis (the "FT Shares") at a price of $3.80 per FT Share, and (b) up to 2,646,000 common shares of the Company issued on a non-flow-through basis (the "NFT Shares") at a price of $3.30 per NFT Share. Collectively the FT Shares and NFT Shares are referred to as the "Offered Securities". In connection with the Offering, the Agents will be entitled to a cash fee in an amount equal to 6% of the gross proceeds of the Offering. The gross proceeds from the issuance of the FT Shares will be used for Canadian Exploration Expenses and will qualify as "flow-through mining expenditures" (the "Qualifying Expenditures"), as defined in subsection 127(9) of the Income Tax Act (Canada), which will be renounced to the subscribers with an effective date no later than December 31, 2018 to the initial purchasers of the FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares, as applicable, and, if the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Corporation will indemnify each FT Share subscriber for any additional taxes payable by such subscriber as a result of the Corporation's failure to renounce the Qualifying Expenditures as agreed. The net proceeds from the NFT Share Offering will be used for on-going exploration and development work on the Company properties and for general corporate purposes. All Offered Securities will be subject to a four month hold period from the date of issue in accordance with applicable securities laws. The Consolidation and the Offering are subject to approval of the TSX Venture Exchange. The Company will confirm the effective date of the Consolidation in a subsequent news release. The Offering is currently expected to close on November 8, 2018 or such other date or dates as the Company and the Lead Agent may agree. ON BEHALF OF THE BOARD OF DIRECTORS, Nav Dhaliwal, President & CEO Bonterra Resources Inc. Email: ir@bonterraresources.com Website: www.bonterraresources.com