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CALGARY, AB, Nov. 10, 2021 /CNW/ - Bonterra Energy Corp.
(www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the
"Company") is pleased to announce that it has closed its
previously announced $7.5 million
follow on brokered private placement debt financing (the "Follow
On Offering").
The Follow On Offering consisted of 7,500 units ("Units")
issued at a price of $1,000 per Unit
and have the same terms as the Units that were issued pursuant to
the initial brokered private placement which closed on October 20, 2021. Each Unit was comprised of one
senior unsecured debenture with a face value of $1,000 which bears interest at 9.0% per annum and
has a maturity date of October 20,
2025 plus 56 common share purchase warrants (the
"Warrants"), with each Warrant exercisable to acquire one
common share (a "Common Share") of Bonterra at a price of
$7.75 per Common Share until
October 20, 2025.
Paradigm Capital Inc. and Peters & Co. Limited acted as
co-lead agents on the Follow On Offering.
The Company intends to use the net proceeds of the Follow On
Offering for general corporate purposes.
About Bonterra
Bonterra Energy Corp. is a conventional oil and gas corporation
with operations in Alberta,
Saskatchewan and British Columbia, focused on its strategy of
long-term, sustainable growth and value creation for its
shareholders. The Company's shares are listed on The Toronto Stock
Exchange under the symbol "BNE".
Forward-Looking Information
Certain statements
contained in this release include statements which contain words
such as "anticipate", "could", "should", "expect", "seek", "may",
"intend", "likely", "will", "believe" and similar expressions,
relating to matters that are not historical facts, and such
statements of our beliefs, intentions and expectations about
development, results and events which will or may occur in the
future, constitute "forward-looking information" within the meaning
of applicable Canadian securities legislation and are based on
certain assumptions and analysis made by us derived from our
experience and perceptions. Forward-looking information in this
release includes the expected use of net proceeds of the Follow On
Offering.
All such forward-looking information is based on certain
assumptions and analyses made by us in light of our experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors we believe are
appropriate in the circumstances. The risks, uncertainties, and
assumptions are difficult to predict and may affect operations, and
may include, without limitation: foreign exchange fluctuations;
equipment and labour shortages and inflationary costs; general
economic conditions; industry conditions; changes in applicable
environmental, taxation and other laws and regulations as well as
how such laws and regulations are interpreted and enforced; the
ability of the Company to raise capital and maintain its syndicated
bank facility; the effect of weather conditions on operations and
facilities; the existence of operating risks; volatility of oil and
natural gas prices; oil and gas product supply and demand; risks
inherent in the ability to generate sufficient cash flow from
operations to meet current and future obligations; increased
competition; stock market volatility; opportunities available to or
pursued by us; and other factors, many of which are beyond our
control.
Actual results, performance or achievements could differ
materially from those expressed in, or implied by, this
forward-looking information and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
information will transpire or occur, or if any of them do, what
benefits will be derived there from. Except as required by law,
Bonterra disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise.
The forward-looking information contained herein is expressly
qualified by this cautionary statement.
Numerical Amounts
The reporting and the functional currency of the Company is the
Canadian dollar.
SOURCE Bonterra Energy Corp.