VAL-D'OR, QC, March 26, 2019 /CNW/ - Bonterra Resources
Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the "Company" or
"Bonterra") is pleased to announce the appointment of
Matthew Happyjack to its Board of
Directors, following the resignation of Richard Boulay.
"We are pleased to welcome Matthew to the Board of Directors"
stated Greg Gibson, Chairman and
interim CEO. "His strong background in business management and
operations, particularly in the Val-d'Or region where Bonterra is advancing
the development of its mineral exploration assets, will serve the
Company well. I also wish take this opportunity to thank the
outgoing director, Richard, for his contribution in building this
Company."
Mr. Happjack is currently the President of Air Creebec, a
regional airline based in Val-d'Or, Québec, that operates regularly
scheduled flights, charters and freight services to 16 destinations
in Quebec and Ontario, with its 400 employees. Prior to
joining Air Creebec in 2010, Mr. Happyjack held various positions
in the financial, management and accounting fields, all the while
remaining actively involved in various projects to promote the
economic development of The Cree First Nation of Waswanipi. Mr. Happyjack holds an MBA from the
Université du Québec en Abitibi-Témiscaminque, where he also
completed a Certificate in Accounting. He also holds certificates
in Community Economic Development and Management and in Community
Management, from Concordia University.
Following this nomination, M. Happyjack was granted 200,000
share purchase options, having an exercise price of $2.00 and a term of five years, subject to the
terms of the Company's stock option plan.
Bonterra is also pleased to announce it has optioned the right
to acquire a new property, consisting of one mining claim covering
an area of 56 ha, located 20 km north of the Barry project, in the
heart of the Urban Barry mining camp. To acquire the property,
Bonterra will make a cash payment of $25,000 and issue 10,000 common shares, to the
arm's length vendors and, to exercise the option, Bonterra will
make an additional cash payment of $50,000 and issue 15,000 common shares before the
one-year anniversary of the agreement. This transaction
remains subject to the approval of the TSX Venture Exchange and all
common shares issued hereunder will be subject to a four-month hold
period.
Bonterra Quick Facts
- Currently developing three high-grade gold deposits: Gladiator,
Barry and Moroy projects in the mining-friendly jurisdiction of
Quebec;
- with significant regional targets in the Urban Barry Camp.
- Bonterra is in the process of upgrading its wholly-owned gold
mill, the only permitted mill in the Urban Barry Camp, to increase
capacity from 800 to 2400 tpd; and
- a property-wide mineral resource estimate is underway and will
include the Gladiator, Barry and Moroy deposits.
- Bonterra has a strong shareholder base which includes Wexford
Capital, Kirkland Lake Gold and
Eric Sprott.
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.
Cautionary and Forward-Looking Statements
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/bonterra-appoints-matthew-happyjack-as-director-300818545.html
SOURCE Bonterra Resources Inc.