05:26 PM EDT, 06/12/2025 (MT Newswires) -- Bonterra Resources ( BONXF ) , after trade Thursday, said it is raising $7 million in a brokered private placement of share units.

The offering will include up to nearly 20.5-million "hard-dollar" units at $0.22 per unit, up to nearly 2.1-million "flow-through" units at $0.24 each, and up to nearly 6.6-million "premium flow-through" units at $0.305 each, the company said.

Each hard-dollar unit includes one common share and half of a share purchase warrant. Each full warrant allows the holder to buy one additional share at $0.30 for three years. The flow-through and premium flow-through units also include half a warrant, and the shares in those units will qualify as "flow-through shares" under Canadian tax law, the company added.

Bonterra has granted the agents an option to sell up to 15% more units if there is strong demand. This option can be exercised at any time up to the closing date, which is expected to be June 30, according to the statement.

Proceeds from the hard-dollar units will be used for general corporate and administrative purposes. Proceeds from the flow-through units will be used to fund qualifying exploration expenses in Canada, the company said.