Bonterra Resources Inc. announced that it has entered into an agreement with Eight Capita to act as sole agent for the private placement on best efforts basis to issue 16,000,000 units at a price of CAD 0.25 per unit for gross proceeds of CAD 4,000,000 on April 18, 2024. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one share at an exercise price of CAD 0.31 for a period of four years from the date of issuance.

The transaction is expected to close on or around May 2, 2024. The Units issued pursuant to the Private Placement Offering will be subject to a four month hold period under applicable Canadian securities laws.