• Mining company Bonterra Resources (BTR) has promoted its Interim CEO, Pascal Hamelin, to full-time President and CEO
  • Pascal has been the company’s interim leader since former President and CEO Greg Gibson stepped down in June
  • In other news, Bonterra has announced plans for a non-brokered private placement, for proceeds of up to C$10 million
  • The proceeds will fund drilling campaigns, a resource estimate update, and a preliminary economic assessment at company mining projects
  • Bonterra Resources is up 3.66 per cent and is currently trading for $1.70 per share

Mining company Bonterra Resources (BTR) has unanimously promoted its Interim CEO, Pascal Hamelin, to full-time President and CEO.

Pascal has been acting as the company’s interim leader since June, after its former President and CEO Greg Gibson stepped down. Bonterra’s Chairman, Cesar Gonzalez, said that Pascal has invaluable knowledge of the company’s assets, after working within it for over 10 years.

“He has longstanding relationships with employees, stakeholders, first nations groups and the Quebec Government,” Cesar said.

“He has recently demonstrated his leadership abilities in advancing the company through its exploration program, bulk sample, and day-to-day operations,” he added.

Cesar went on to say that the company looks forward to Bonterra’s future under Pascal’s continued leadership in 2021. 

In other news, the company has announced plans for a non-brokered private placement, for proceeds of up to C$10 million. Through the placement, Bonterra will sell its common shares at a price of $1.15 each, with the option of increasing the offering’s number of shares up for sale.

All common shares which the company issues through the private placement will be subject a hold period of four months and one day, from the date of issuance.

The company will use the proceeds of the offering to fund a number of activities at its Moroy, Gladiator, and Barry mining projects. These activities include drilling campaigns, a resource estimate update, and a Preliminary Economic Assessment.

Bonterra expects the PEA to be completed in the fall of 2021. 

The company may also use some of the private placement’s proceeds for general working capital purposes. 

Bonterra Resources is up 3.66 per cent and trading for C$1.70 per share, as of 11:21am EST.

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