BonTerra Resources closes $5.2M Kinross Gold strategic investment

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By CPE News

Vancouver (pcJ News Briefs) – BonTerra Resources Inc. (TSX-V: BTR; OTCPK: BONXF; FSE: 9BR1) has completed previously announced private placement with Kinross Gold Corporation (TSX: K; NYSE: KGC) of 14,857,440 common shares at a price of $0.35 per share for gross proceeds of $5,200,104.

Following the closing, Kinross holds approximately 9.5% of BonTerra’s issued and outstanding common shares on an undiluted basis.

Proceeds will be used for exploration on BonTerra’s properties and for general working capital purposes.

INFOR Financial Inc. was retained as strategic financial advisor to BonTerra with respect to the transaction and its negotiations with Kinross and was paid a finder’s fee in respect thereof. In addition, Sprott Capital Partners and Fort Capital Partners provided advice to BonTerra in connection with the transaction.

BonTerra is a Canadian gold exploration company focused on continuing to expand its NI 43-101 compliant gold resource on its West Arena Property, part of the world famous Abitibi Greenstone Belt in Quebec.

photo credit: BonTerra Resources