The Prospector News

Bonterra Announces Repayment of C$5 Million Credit Facility

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Bonterra Announces Repayment of C$5 Million Credit Facility

 

 

 

 

 

Bonterra Resources Inc. (TSX-V: BTR) (OTCQX: BONXF) (FSE: 9BR2) is pleased to announce that it has fully repaid a non-revolving credit facility in the principal amount of C$5,000,000 originally advanced under a credit agreement dated March 23, 2026 with Wexford Capital LP a Delaware limited partnership and an insider of the Company, as agent, and certain affiliates of Wexford Capital as lenders. The full principal amount of C$5,000,000 was made available to the Company by way of a single advance. Pursuant to the terms of the Credit Agreement, the Credit Facility bore interest at a rate per annum equal to 8.00% plus the Secured Overnight Financing Rate term rate applicable to the six-month period commencing on the closing date and ending on the maturity date of September 23, 2026. Together with the principal amount of the Credit Facility, accrued interest, and the payment of the Commitment Fee (as defined herein), the Company paid an aggregate total of C$5,361,469.86.

 

As described under the Company’s news release dated March 23, 2026, interest accrued under the Credit Facility was payable in arrears on the date that is six months from the closing date and, at the Agent’s option, may be paid in cash or in common shares of the Company. The accrued interest was fully repaid in cash, and no Shares were issued pursuant to the repayment of the Credit Facility.

 

In consideration of the Lenders arranging and establishing the Credit Facility and the Agent agreeing to act as agent, the Company paid to the Agent a commitment fee of C$100,000. The Agent had the option to have the Commitment Fee paid in cash or in Shares and elected to have the fee paid in cash.

 

The proceeds under the Credit Facility were used by the Company for the purposes of: (i) indemnifying or reimbursing its shareholders who participated in the flow-through private placements completed on December 13, 2019 and October 21, 2021, for taxes imposed prior to the closing date in connection with flow-through share offerings of the Company; and (ii) funding eligible exploration and development expenditures on the Desmaraisville property required to satisfy the Company’s renunciation commitments under applicable flow-through share subscription agreements. The Company repaid the Credit Facility through funds raised in the Company’s rights offering (as previously disclosed in the Company’s news release dated August 31, 2026).

 

Posted September 2, 2026

Share this news article

MORE or "UNCATEGORIZED"


Brutus Mining Announces Closing of $3.0 Million Private Placement Financings

Brutus Mining Inc. (CSE: BRU) (FSE: ZI3) is pleased to announce that it has closed its non-brokered ... READ MORE

October 14, 2026

Jaguar Uranium Announces Maiden Mineral Resource Estimate at Laguna Salada in Argentina

Jaguar Uranium Corp. (NYSE American: JAGU) is pleased to announce an independent Mineral Resource E... READ MORE

October 14, 2026

Auro Intersects 572m Grading 0.60 g/t Gold and 0.1% Copper at the Santa Barbara Gold-Copper Project, Ecuador

Auro Metals Inc. (TSX-V: AURO) (OTCQB: AURFF), is pleased to announce the assay results of the fina... READ MORE

October 14, 2026

Endeavour Silver Restores Guanaceví Mill to Full Capacity Following Trunnion Replacement

Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) is pleased to announce that repairs to the primary bal... READ MORE

October 14, 2026

Scorpio Gold Drills 2.94 g/t Gold over 36.42 Metres from 169.62 Metres at the Goldwedge Target at Manhattan

Scorpio Gold Corp. (NASDAQ: SGLD) (TSX-V: SGLD) (OTCQB: SRCRF) (FSE: RY9) is pleased to announce re... READ MORE

October 14, 2026

Copyright 2026 The Prospector News