BonTerra to Acquire Gold Property East of Current Drilling

BonTerra Resources Inc. (TSXV:BTR) enters into a property acquisition agreement dated December 10, 2010 to acquire 57 claims totaling 912 hectares.

The press release is quoted as saying:

Under the terms of the agreement, BonTerra has agreed to pay $35,000 and issue 2 million shares to the vendor upon approval by the TSX Venture Exchange. On closing, BonTerra has also agreed to grant the vendor a 2% net smelter royalty, of which 1% can be purchased back by BonTerra for $1.0 million. The closing of the acquisition is subject to certain conditions, including approval from the TSX Venture Exchange. Shares issued to the vendor will include a four month hold period as required in accordance with applicable securities laws.

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