On May 3, 2024, Bonterra Resources Inc. closed the transaction. Under the offering, the Company sold 5,250,000 flow-through units of the Company to purchasers at a price of CAD 0.445 per FT Unit for gross proceeds of CAD 2,336,250 from the sale of FT Units; and 24,820,000 units of the Company at a price of CAD 0.25 per Unit for gross proceeds of CAD 6,205,000 from the sale of Units (which included 3,070,000 overallotment shares). In connection with the offering the company issued to the Agents warrants to purchase an aggregate of 2,004,500 common shares of the Company at a price of CAD 0.25 per share exercisable for a period of four years from closing. As a part of the transaction, the company paid a cash commission of CAD 549,037 and issued to the agents compensation options and warrants to purchase an aggregate of 2,004,500 common shares of the company at a price of CAD 0.25 per share exercisable for a period of four years from closing.

The company announced that the TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement. The transaction included participation from 61 placees.