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Bonterra in new C$21.5m raise

Vancouver-based gold explorer Bonterra Resources (TSXV: BTR) is raising a further C$21.5 million of equity funding via Sprott Capital Partners after raising about C$40 million last year to advance its Gladiator gold project in the Abitibi.
Bonterra in new C$21.5m raise Bonterra in new C$21.5m raise Bonterra in new C$21.5m raise Bonterra in new C$21.5m raise Bonterra in new C$21.5m raise

Bonterra drilling at Gladiator

Staff reporter

The project is south of Windfall, where Osisko Mining is conducting the biggest current gold exploration drilling program in the world.

Bonterra is issuing 13.3 million ‘Super FT (flow through) shares at a price of C75c a share, and 19.2 million of the Super FT shares at 60c, through Sprott. It is paying Sprott 6% of the gross proceeds raised, and issuing 1.3 million warrants to subscribe for shares at 60c within two years.

Investors have marked Bonterra's shares down 7% to 51c so far this week. The company had a market capitalisation of C$98.2 million Thursday.