BonTerra Closes $5.2M Strategic Investment by Kinross Gold

BonTerra (TSXV:BTR) has announced that it has closed its previously announced private placement of 14,857,440 common shares of BonTerra by Kinross Gold at $0.35 per share for gross proceeds of $5.2 million.
As quoted in the press release:

On closing of the Transaction, Kinross holds approximately 9.5% of BonTerra’s issued and outstanding Common Shares on an undiluted basis.
The gross proceeds from the sale of the Common Shares will be used for exploration on BonTerra’s properties and for general working capital purposes. The Transaction remains subject to the final approval of the TSX Venture Exchange.
INFOR Financial Inc. was retained as strategic financial advisor to BonTerra with respect to the Transaction and its negotiations withKinross and was paid a finder’s fee in respect thereof. In addition, Sprott Capital Partners and Fort Capital Partners provided advice to BonTerra in connection with the Transaction. The advisors were issued an aggregate of 742,872 advisory warrants in consideration for their services, each advisory warrant being exercisable to acquire one Common Share at an exercise price of $0.35 for a period of two years from the date of issuance.

Click here to read the full press release.