Bonterra Resources Inc (BTR)

[NYBob]

Bonterra to Acquire Metanor, Expanding Strategic Position in Urban Barry Camp and De-risking Potential Path to Production
VANCOUVER, June 18, 2018 /PRNewswire/ -

Bonterra Resources Inc. ("Bonterra" or the "Company") (TSX-V:BTR, US:BONXF, FSE:9BR1) and

Metanor Resources Inc. ("Metanor") (TSX-V:MTO)
are pleased to announce that they have entered into a binding letter of
intent dated June 17, 2018 (the "LOI") to combine Bonterra and Metanor
(the "Transaction") to create an exciting new advanced Canadian gold
exploration and development company focused on becoming the leader in
the building out and future mining development of the Urban Barry
Quebec Gold Camp.

The Transaction contemplates that Bonterra will acquire all of the
issued and outstanding common shares of Metanor for C$0.73 in equity
consideration, at an exchange ratio of 1.6039 Bonterra shares, for each
Metanor share. Immediately prior to the completion of the
Metanor acquisition,
Bonterra will spin out its Larder Lake assets in
Ontario, Canada, and a specified amount of cash (the "Spin-Out"), in
order to create a well-capitalized and exciting new exploration
opportunity for its shareholders.

Highlights of the Transaction:

https://web.tmxmoney.com/article.php?newsid=6003256138622922&qm_symbol=MTO

God Bless