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.
