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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2012) - BonTerra Resources Inc. (News - Market indicators) (FRANKFURT:9BR) (the "Company" or "BonTerra") is pleased to announce that in furtherance to its news releases dated September 6, 2012 and September 18, 2012, it has completed the closing of a brokered private placement of 5,555,000 flow-through units of the Company (each, a "Flow-Through Units") at $0.11 per Flow-Through Unit and 1,000,000 units of the Company (each, a "Units") at $0.085 per Unit for total gross proceeds of up to $696,050.
Each Flow-Through Unit consists of one flow-through common share of the Company and one-half of one non-transferable common share purchase warrant (each, a "Flow-Through Warrant"). Each Flow-Through Warrant entitles the holder to purchase one non-flow through common share of the Company at a price of $0.15 until March 21, 2014.
Each Unit consists of one common share of the Company and one common share purchase warrant (each, a "Hard Dollar Warrant"). Each Hard Dollar Warrant entitles the holder to purchase one Common Share at a price of $0.12 until March 21, 2014.
In connection with the brokered private placement, the Company paid Industrial Alliance Securities Inc. ("IAS") a cash finder's fee of $55,684 equal to 8% of the gross proceeds from the brokered private placement and granted 524,400 warrants (each, an "Agent's Warrants") to IAS, or firms designated by IAS, equal to 8% of the number of Flow-Through Units and Units sold under the brokered private placement. Each Agent's Warrants entitles the holder to purchase one common share of the Company (each, an "Agent's Warrant Share") at a price of $0.085 per Agent's Warrant Share until March 21, 2014.
All of the securities issued pursuant to the private placement will be subject to a restricted period that expires January 22, 2013 in accordance with applicable securities laws.
About BonTerra Resources
BonTerra is a Canadian gold exploration company based in Vancouver, BC. BonTerra is focused on continuing to expand the drill defined gold zones on its Eastern Extension property, part of the world famous Abitibi Greenstone Belt in mining friendly Quebec. BonTerra has a total of three gold properties in the Urban-Barry belt, the Eastern Extension, Lavoie and Urban-Barry properties which are all located approximately 170 km NE of Val-d'Or and 125 km SW of Chibougamau in the Urban, Barry and Bailly townships in Québec.
The Company owns 100% of the Property subject to a 2% NSR which is held by three individuals, 1% of which can be purchased for a sum of $500,000.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
Navjit Dhaliwal, President and Director