Bonterra Congratulates Osisko Mining on C$2.16 Billion Friendly Takeover by Gold Fields

Rhea-AI Summary

Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) congratulates Osisko Mining on its C$2.16 billion friendly takeover by Gold Fields The all-cash transaction values Osisko shares at C$4.90 per share, representing a 55% premium to the 20-day volume weighted average trading price. Bonterra's CEO, Marc André Pelletier, expressed enthusiasm for the deal, highlighting its significance for the Windfall gold project and the region's development. He also emphasized Bonterra's commitment to continuing the joint venture with their new partner, Gold Fields.

Positive

• Bonterra's joint venture partner Osisko Mining acquired for C$2.16 billion, potentially increasing the value of their shared projects
• 55% premium paid for Osisko shares indicates strong valuation of the Windfall gold project and surrounding exploration camp
• Acquisition by major gold producer Gold Fields may lead to increased development and growth in the region

Negative

• None.

Val-d'Or, Quebec--(Newsfile Corp. - August 12, 2024) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) ("Bonterra" or the "Company") congratulates Osisko Mining Inc. ("Osisko Mining") on their recent announcement that it has entered into a definitive arrangement agreement dated August 12, 2024 (the "Arrangement Agreement") pursuant to which Gold Fields Limited, through a 100% owned Canadian subsidiary ("Gold Fields"), has agreed to acquire all of the issued and outstanding common shares of Osisko (the "Shares") at a price of C$4.90 per Share (the "Consideration"), in an all-cash transaction valued at approximately C$2.16 billion on a fully diluted basis (the "Transaction").

The Consideration represents an approximate 55% premium to the 20‐day volume weighted average trading price per Share on the Toronto Stock Exchange for the period ending August 9, 2024, being the last trading day prior to the announcement of the Transaction.

Marc André Pelletier, President and CEO commented: "We extend a well-deserved congratulations to our neighbors and joint venture partners, Osisko Mining, on this important milestone. The significant premium paid by Gold Fields underscores the value of the Windfall gold project and its highly prospective exploration camp. We are confident that this transaction will further drive growth and development in the region. We look forward to continuing the joint venture with our new partner Gold Fields and to the shared success that lies ahead."

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company's assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into an earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra's dedication to advancing its exploration assets, marking a significant step towards development.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, President & CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-279-9304 | 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.

Forward-Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including the ability and timing of the parties to complete the Joint Venture (if at all), whether the work expenditures would be incurred as contemplated in the Agreement (or at all), the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in the Company's recent securities filings available at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219650

FAQ

What is the value of Gold Fields' takeover of Osisko Mining announced on August 12, 2024?

Gold Fields' takeover of Osisko Mining is valued at approximately C$2.16 billion on a fully diluted basis.

What is the price per share offered by Gold Fields for Osisko Mining shares?

Gold Fields has agreed to acquire Osisko Mining shares at a price of C$4.90 per share.

How does the takeover price compare to Osisko Mining's recent trading price?

The takeover price represents an approximate 55% premium to Osisko Mining's 20-day volume weighted average trading price on the Toronto Stock Exchange prior to the announcement.

How does this takeover affect Bonterra Resources (BONXF)?

Bonterra Resources (BONXF) is a joint venture partner with Osisko Mining. The company looks forward to continuing the joint venture with their new partner, Gold Fields, potentially benefiting from increased regional development and growth.