Business & Finance
Business and Finance
Business and Finance
Wed, August 5, 2009
Tue, August 4, 2009 BonTerra Resources Inc.: BonTerra Financing Update
VANCOUVER, BC--(Marketwire - August 4, 2009) - BonTerra Resources Inc. (TSX-V: [ BTR ]) (the "Company") is pleased to announce that, further to its news release dated June 25, 2009, it has increased the proposed unit financing from Cdn$12,000,000 to Cdn$15,000,000. In addition, the Company intends to close the first tranche as a non-brokered financing of Cdn$500,000 in early August with the remaining brokered financing closing simultaneously with the proposed acquisition of the Red Mountain Property as disclosed in the news release dated June 25, 2009. The Company intends to offer the Cdn$500,000 non-brokered financing at a price of Cdn$0.50 per unit, each unit consisting of one share and one share purchase warrant. Each warrant is exercisable into one common share at a price of Cdn$0.75 per share for a period of two years. The Company has agreed to pay a finder's fee of $3,500 to Haywood Securities Inc. with respect to one subscription for the proposed issuance of 100,000 units. The Company intends to use the proceeds of the first tranche to partially fund a proposed drill program on the Company's Willoughby Claims.
ON BEHALF OF THE BOARD BONTERRA RESOURCES INC. /s/ Mitchell Adam Mitchell Adam President, Director
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of BonTerra such as the statement that: (i) BonTerra may raise up to Cdn$500,000 in the non-brokered offering and up to $15,000,000 in the brokered offering;(ii) the Company may acquire the Red Mountain Property; and (iii) BonTerra may carry out a drill program on its Willoughby claims. There are numerous risks and uncertainties that could cause actual results and BonTerra's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) receipt of approval from the TSX Venture Exchange with respect to the financing; (ii) the ability of BonTerra to close the financing; (iii) general economic conditions; (iv) fluctuations in mineral prices; and (v) the ability of BonTerra to execute its business plan. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, BonTerra assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
