BonTerra Resources Strengthens Board with Addition of Boulay as Director
BonTerra Resources Strengthens Board with Addition of Boulay as Director
Vancouver, BC - December 9, 2015: BonTerra Resources Inc. (TSX-V: BTR, US: BONXF) (the "Company" or "BonTerra") is pleased to announce the appointment of Mr. Richard Boulay, B.Sc. (Geology) to its Board of Directors.
Nav Dhaliwal, President and CEO of the Company, stated: "As we continue to advance the Gladiator Gold Project, adding experienced mining professionals to the BonTerra Team is key to success in today's mining environment. Mr. Boulay strengthens our Board in the key areas of senior level executive management, operation and the financing of public companies."
Mr. Richard Boulay is a geologist with over 40 years of experience in the exploration and mining industries in Canada and internationally, including 15 years of mining and infrastructure financing experience gained with Bank of Montreal, Royal Bank of Canada and Bank of Tokyo. During Mr. Boulay's project financing career he arranged the financing of numerous underground and open pit mining projects, hydro and diversion dams, nuclear reactors, pipelines and offshore oil exploration and production platforms. He has extensive experience in the management and financing of public companies in Canada and the United States. Mr. Boulay also brings extensive exploration experience that can be applied to BonTerra's current projects as a result of previously exploring for gold deposits in the greenstone belts of northwestern Quebec.
Further, the Company has accepted the resignation of Robert Bryce as a Director of the Company. The Company wishes to thank Mr. Bryce and wishes him the best in his future endeavors.
Engagement of Investor Relations Consultant
BonTerra has also engaged Bluesky Corporate Communications Ltd. ("Bluesky"), the principal of which is Mr. Todd Hanas, as an investor relations consultant. Bluesky, located in Vancouver, BC, brings over 20 years' marketing, financial and corporate communications experience and will assist BonTerra by increasing exposure to the brokerage and retail investment community, while increasing share value and liquidity to the existing capital structure. The initial term of the agreement is for one year's services in consideration of the Company paying Bluesky a monthly fee of $6,000.
Stock Option Grant
Pursuant to the additions to the BonTerra team, the Company has granted 400,000 incentive stock options to Mr. Boulay and 400,000 incentive stock options to Bluesky for their services. All stock options are exercisable at a price of $0.22 per share for a period of five (5) years ending December 8, 2020 or until they cease to provide services to the Company. The stock options have been granted under and are governed by the terms of the Company's incentive stock option plan. In accordance with TSX Venture Exchange ("Exchange") policies, the options granted to Bluesky will be subject to vesting provisions over a 12-month period.
The consulting agreement and the grant of options are subject to Exchange approval.
BonTerra Resources Quick Facts:
- Currently drilling at its 100% owned Gladiator Gold Project to expand current gold resource.
- BA-15-01 intersected 14.1 g/t Au over 6.6m (announced November 4, 2015)
- BA-15-02 intersected 7.2 g/t Au over 7.7m (announced December 2, 2015)
- Located in the Abitibi Greenstone Belt in mining-friendly Quebec.
- Using a 4 g/t cut-off grade, the project currently contains an inferred resource of 905,000 tonnes, grading 9.37 g/t for 273,000 ounces of gold. Of note, ~90% of the worlds operating mines have an average gold grade less than 8 g/t.
- ~36 million shares outstanding and debt free.
- Most recent financing: ~$2.5 million (Oban Mining Corp. became largest shareholder at 19% holdings - see news release dated July 7, 2015).
For further information, please contact Nav Dhaliwal, President, at nav@bonterraresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
BonTerra Resources Inc.
604.678.5308
For additional information related to communications, media relations, and investor relations please contact:
Todd Hanas, President
Bluesky Corporate Communications Corp.
866.869.8072
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.
This press release contains "forward-looking information" that is based on BonTerra''s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to BonTerra's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause BonTerra's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. 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. BonTerra disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
