Bonterra Energy Corp. Announces Increase in Previously Announced Private Placement Debt Financing



CALGARY, AB, 21 October 2021 / CNW / – Bonterra Energy Corp. ( (TSX: BNE) (“Bonterra“or the”Society“) is pleased to announce an increase in its $ 5 million track private placement debt financing (the “”Follow the offer“) to an aggregate of $ 7.5 million of units (the “Units”). Each Unit will consist of a senior unsecured debenture with a par value of $ 1,000 (each one “Debenture“) which will bear interest at the rate of 9.0% per annum and will have a term of four years plus 56 common share purchase warrants (the”Mandates“), each warrant that may be exercised to acquire one common share (a”Ordinary share“) from Bonterra at the price of $ 7.75 per ordinary share for a period of four years from 20 October 2021.

Paradigm Capital Inc. and Peters & Co. Limited are acting as co-lead agents in connection with the Track Offer.

The Company intends to use the net proceeds of the follow-up placement primarily to repay existing bank indebtedness and for general corporate purposes.

The units issuable in connection with the trailing placement will be offered by way of private placement exemptions from the prospectus requirements under National Instrument 45-106 Prospectus Exemptions in each of the provinces of Canada and in United States in accordance with exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in accordance with applicable laws and subject to applicable regulatory holding periods.

About Bonterra

Bonterra Energy Corp. is a conventional oil and gas company with operations in Alberta, Saskatchewan and British Columbia, focused on its strategy of sustainable and long-term growth and value creation for its shareholders. The Company’s shares are listed on the Toronto Stock Exchange under the symbol “BNE”.

Forward-looking information

Certain statements in this release include statements that contain words such as “anticipate”, “may”, “should”, “expect”, “seek”, “may”, “intend”, “Probably”, “will”, “” believe “and similar expressions, relating to matters which are not historical facts, and such statements of our beliefs, intentions and expectations concerning the development, the results and the events which take place. will or may occur in the future, constitutes “forward-looking information” within the meaning of applicable Canadian securities legislation and is based on certain assumptions and analyzes that we have made based on our experience and perceptions. contained in this release include, but are not limited to: the size and intended use of the net proceeds of the follow-up offering.

All of this forward-looking information is based on certain assumptions and analyzes that we have made in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors that we deem appropriate in the future. circumstances. Risks, uncertainties and assumptions are difficult to predict and can affect operations, and may include, but are not limited to: fluctuations in currency exchange rates; equipment and labor shortages and inflationary costs; general economic conditions; industry conditions; changes in applicable environmental, tax and other laws and regulations, as well as the manner in which such laws and regulations are interpreted and applied; the ability of oil and gas companies to raise capital or maintain their syndicated banking facilities; the effect of weather conditions on operations and facilities; the existence of operational risks; volatility in oil and natural gas prices; supply and demand for oil and gas products; risks inherent in the ability to generate sufficient cash flow from operations to meet current and future obligations; increased competition; volatility of stock markets; opportunities available or sought by us; and other factors, many of which are beyond our control.

Actual results, performance or achievements could differ materially from those expressed or implied in such forward-looking information and, therefore, no assurance can be given that any of the events anticipated by the forward-looking information will or will occur, or if any of them does, what will be the benefits. Except as required by law, Bonterra disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

The forward-looking information contained in this document is expressly qualified by this cautionary statement.

Numerical amounts

The presentation currency and the functional currency of the Company are the Canadian dollar.

The TSX accepts no responsibility for the accuracy of this release.

SOURCE Bonterra Energy Corp.


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