Val-d'Or, Quebec–(Newsfile Corp. – March 18, 2024)- Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (”Bonterra” or “company”) is pleased to announce that it has hired Machai Capital Inc.Machai“) will provide digital marketing services in accordance with applicable TSX Venture Exchange policies. The initial term of the agreement is three months, pursuant to which Machai will receive 120,000 shares of our common stock plus applicable taxes Machai is an arm's length company and has no relationship with us other than our agreement with Bonterra.
Pursuant to our stock option plan, and subject to regulatory approval, we also grant incentive stock options to various of our employees, officers and directors to acquire an aggregate of 1,970,000 shares of our common stock. I would also like to announce this. Each stock option vests immediately and is exercisable at a price of $0.24 per share for five years from the date of grant.
About Bonterra Resources Inc.
Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets centered around a central mining facility in Quebec, Canada. The Company's assets include the Gladiator, Barry, Molloy and Batchelor gold deposits, which collectively hold 1.24 million ounces in the measured and indicative categories and 1.78 million ounces in the inferred category.
In November 2023, the Company entered into a revenue and joint venture agreement with Osisko Mining, Inc. for the Urban Barry property, which includes the Gladiator and Barry deposits. Over the next three years, Osisko will cover his $30 million working expenses, allowing him to earn 70% interest. This strategic transaction highlights Bonterra's dedication to advancing its exploration assets, representing a significant step toward development.
About Machai Capital Co., Ltd.
Machai is a marketing, advertising and public awareness company based in Vancouver, British Columbia, specializing in the metals and mining, technology and special situation sectors. Suneal Sandhu is Machai's president and can be reached at (604) 375-0084.
For additional information
Marc-Andre Pelletier, President and CEO
ir@btrgold.com
2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-279-9304 | Website: www.btrgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution regarding forward-looking statements
This press release contains “forward-looking information” that is based on Bonterra's current expectations, estimates, projections and projections. This forward-looking information includes, among other things, statements regarding the revenue and joint venture agreement with Osisko Mining announced on November 28, 2023. The words “intend,” “anticipate,” “plan,” and other similar words and phrases are intended to identify forward-looking information. This forward-looking information includes information regarding planned exploration programs and potential growth of mineral resources. Exploration results, including drilling results at wide intervals, may not indicate the occurrence of mineral deposits, and such results may, with further work, be of sufficient grade, continuity, and metallurgy to be classified into the following categories: does not provide any guarantee that the product's performance or economic viability will be established. Mineral resources. The potential quantity and grade of the drilling target is conceptual in nature, there has not been sufficient exploration to define a mineral resource, and whether further exploration will define the target as a mineral resource. is uncertain. Forward-looking information is subject to known and unknown risks and uncertainties that may cause Bonterra's actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information. may be affected by other factors that may Such factors include, but are not limited to: uncertainties related to exploration and development; our ability to raise sufficient capital to fund exploration and development; changes in economic conditions and financial markets, environmental and other judicial, regulatory, political and competitive developments; technical or operational difficulties encountered in connection with exploration activities or inability to obtain permits; and labor-related issues. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202095.
