Mr. Gary Nassif reports
BONTERRA APPOINTS MATTHEW HAPPYJACK AS DIRECTOR
Bonterra Resources Inc. has appointed 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 chief executive officer. "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 [to] take this opportunity to thank the outgoing director, Richard, for his contribution in building this company."
Mr. Happyjack is currently the president of Air Creebec, a regional airline based in Val d'Or, Que., 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 Universite du Quebec en Abitibi-Temiscaminque, 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, Mr. 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 hectares, located 20 kilometers 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.
About Bonterra Resources
The company is 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 2,400 tons per day. A property-wide mineral resource estimate is under way 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.
We seek Safe Harbor.
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