Bonterra Announces Repayment of C$5 Million Credit Facility

Bonterra Resources (BONXF) has fully repaid its non-revolving credit facility with Wexford Capital and affiliates, originally advanced under a March 23, 2026 credit agreement for C$5,000,000.

Rhea-AI Summary

Bonterra Resources (BONXF) has fully repaid its non-revolving credit facility with Wexford Capital and affiliates, originally advanced under a March 23, 2026 credit agreement for C$5,000,000.

The facility bore interest at 8.00% per annum plus the six‑month Secured Overnight Financing Rate, with a scheduled maturity of September 23, 2026. Including principal, accrued interest and a C$100,000 commitment fee, Bonterra paid an aggregate C$5,361,469.86. Interest and the commitment fee were settled entirely in cash, and no common shares were issued. Proceeds from the facility were used to indemnify certain flow‑through shareholders for tax liabilities and to fund eligible exploration and development expenditures on the Desmaraisville property. The repayment was funded with proceeds from the company’s rights offering.

Positive

• C$5,000,000 credit facility fully repaid, removing related debt and obligations
• Total payout of C$5,361,469.86, including interest and fees, eliminates future interest expense on this facility
• Interest and C$100,000 commitment fee paid entirely in cash, avoiding share issuance and dilution
• Facility proceeds directed to tax indemnification for flow-through shareholders and Desmaraisville exploration commitments

Negative

• Repayment required a cash outflow of C$5,361,469.86, including a C$100,000 commitment fee
• Credit facility carried a relatively high interest margin of 8.00% per annum plus SOFR until repayment

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Val-d'Or, Quebec--(Newsfile Corp. - September 2, 2026) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) ("Bonterra" or the "Company") is pleased to announce that it has fully repaid a non-revolving credit facility in the principal amount of C$5,000,000 (the "Credit Facility") originally advanced under a credit agreement dated March 23, 2026 (the "Credit Agreement") with Wexford Capital LP ("Wexford Capital"), a Delaware limited partnership and an insider of the Company, as agent (the "Agent"), and certain affiliates of Wexford Capital as lenders (the "Lenders"). The full principal amount of C$5,000,000 was made available to the Company by way of a single advance. Pursuant to the terms of the Credit Agreement, the Credit Facility bore interest at a rate per annum equal to 8.00% plus the Secured Overnight Financing Rate term rate applicable to the six-month period commencing on the closing date and ending on the maturity date of September 23, 2026 (the "Maturity Date"). Together with the principal amount of the Credit Facility, accrued interest, and the payment of the Commitment Fee (as defined herein), the Company paid an aggregate total of C$5,361,469.86.

As described under the Company's news release dated March 23, 2026, interest accrued under the Credit Facility was payable in arrears on the date that is six months from the closing date and, at the Agent's option, may be paid in cash or in common shares of the Company ("Shares"). The accrued interest was fully repaid in cash, and no Shares were issued pursuant to the repayment of the Credit Facility.

In consideration of the Lenders arranging and establishing the Credit Facility and the Agent agreeing to act as agent, the Company paid to the Agent a commitment fee of C$100,000 (the "Commitment Fee"). The Agent had the option to have the Commitment Fee paid in cash or in Shares and elected to have the fee paid in cash.

The proceeds under the Credit Facility were used by the Company for the purposes of: (i) indemnifying or reimbursing its shareholders who participated in the flow-through private placements completed on December 13, 2019 and October 21, 2021, for taxes imposed prior to the closing date in connection with flow-through share offerings of the Company; and (ii) funding eligible exploration and development expenditures on the Desmaraisville property required to satisfy the Company's renunciation commitments under applicable flow-through share subscription agreements. The Company repaid the Credit Facility through funds raised in the Company's rights offering (as previously disclosed in the Company's news release dated August 31, 2026).

FOR ADDITIONAL INFORMATION

Cesar Gonzalez, Executive Chairman & Interim CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-825-8678 | Website: www.btrgold.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312567

FAQ

What did Bonterra Resources (BONXF) announce regarding its C$5 million credit facility?

Bonterra Resources announced that it has fully repaid its non-revolving credit facility with Wexford Capital and affiliates, originally advanced for C$5,000,000 under a March 23, 2026 credit agreement, eliminating the outstanding principal, accrued interest and related fees.

How much did Bonterra Resources (BONXF) pay in total to settle the Wexford credit facility?

To settle the credit facility, Bonterra Resources paid an aggregate total of C$5,361,469.86, which included the C$5,000,000 principal amount, accrued interest, and a C$100,000 commitment fee owed to the agent.

Were any new shares issued by Bonterra Resources (BONXF) to repay the C$5 million credit facility?

No. Although the credit agreement allowed interest and the commitment fee to be paid in common shares, Bonterra repaid all accrued interest and the C$100,000 commitment fee in cash, and no shares were issued for the repayment of the credit facility.

What were the interest terms on Bonterra Resources (BONXF) C$5 million credit facility?

The credit facility bore interest at an annual rate of 8.00% plus the Secured Overnight Financing Rate term rate applicable to the six‑month period from closing to the scheduled maturity date of September 23, 2026, with interest payable in arrears after six months.

How did Bonterra Resources (BONXF) fund the repayment of its C$5 million credit facility?

Bonterra Resources funded the full repayment of the credit facility using proceeds from its rights offering, which the company had previously disclosed in a news release dated August 31, 2026.

What did Bonterra Resources (BONXF) use the C$5 million credit facility proceeds for?

The company used the facility to indemnify or reimburse shareholders from flow‑through placements in 2019 and 2021 for certain taxes and to fund eligible exploration and development expenditures on the Desmaraisville property to meet flow‑through renunciation commitments.