07:11 AM EDT, 06/16/2025 (MT Newswires) -- Bonterra Resources ( BONXF ) , which lost 14% on Friday, over the weekend increased of its previously announced brokered "best efforts" private placement to up to approximately $10.5 million.

The updated offering includes up to 22.7 million "hard-dollar" units of the company (HD units) at a price of $0.22 each, up to around 14.5 million "flow-through" units of the company (FT units) at a price of $0.24 each and up to about 6.5 million "flow-through" units of the company (Premium FT units) at a price of $0.305 each.

Each HD unit will be made up of one share and one half of one common share purchase warrant. Each warrant will allow the holder to buy one share at an exercise price of $0.30 for a period of three years from the date of issuance.

Each FT unit and Premium FT unit will include one share and one half warrant, each of which will qualify as a "flow-through share". The company added that, for certainty, the proceeds from the exercise of the warrants will not be flow-through eligible.

The offer will conclude on June 30 or another date agreed upon with Canaccord Genuity, said the company.

The proceeds from the offering will be used to fund ongoing operations for the next twelve months. Net proceeds from the sale of the HD units will be used for general corporate and administrative matters, while gross proceeds from the sale of FT and Premium FT units will be used by the company pursuant to the provisions in the Income Tax Act (Canada), to incur eligible "Canadian exploration expenses".