- Bonterra Resources aims to raise $10.5 million through an expanded private placement.
- The funding will facilitate the company's operational plans over the coming year.
- Offering structure includes various unit types priced between C$0.22 and C$0.305.
Bonterra Resources Expands Private Placement Initiative
Bonterra Resources (BTR:CA) has announced a strategic increase in its private placement efforts, setting a new target of up to $10.5 million in gross proceeds. This financial move is designed to bolster the company's operational funding over the next year, providing much-needed capital to drive growth and exploration activities.
Details of the Offering
The private placement is structured to include 22.72 million units priced at $0.22 each. Additionally, the offering incorporates 14.58 million flow-through units available at C$0.24, alongside 6.56 million premium flow-through units priced at C$0.305. This tiered pricing strategy aims to attract a diverse range of investors by offering varying entry points based on unit type.
Strategic Allocation of Funds
Proceeds from this private placement will be allocated towards sustaining and expanding Bonterra Resources' operations over the forthcoming year. By securing this capital, the company is positioning itself to advance its exploration projects and enhance shareholder value. As the year unfolds, investors will be keenly observing how these funds contribute to Bonterra's strategic initiatives and overall performance in the market.
