Bonterra Resources Announces Election Results of its 2024 Annual General Meeting

Rhea-AI Summary

On June 12, 2024, Bonterra Resources (OTCQX: BONXF) held its Annual General Meeting (AGM) for the fiscal year ending 2023 in Val-d'Or, Quebec. Shareholders approved all matters, including the setting of the number of Directors at seven and the re-election of Cesar Gonzalez, Marc-André Pelletier, Normand Champigny, Matthew Happyjack, Paul Jacobi, Matt Houk, and Peter O'Malley as Directors. Crowe MacKay LLP was appointed as the auditors for the following year. Additionally, the Omnibus Equity Incentive Compensation Plan was approved. A total of 76,212,048 common shares, representing 57% of all issued and outstanding shares, were voted.

Positive

• Shareholders approved all matters at the AGM, indicating strong institutional support.
• Re-election of experienced directors ensures continuity in management.
• Crowe MacKay LLP reappointed as auditors, ensuring financial transparency and reliability.
• Approval of the Omnibus Equity Incentive Compensation Plan may attract and retain key talent.
• 57% of the total issued and outstanding shares were voted, demonstrating active shareholder engagement.

Negative

• No mention of any new strategic initiatives or business developments that could drive future growth.
• Lack of detailed financial performance metrics or outlook could concern some investors.
• The approval of the Equity Incentive Plan may lead to potential shareholder dilution.

Val-d'Or, Quebec--(Newsfile Corp. - June 12, 2024) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) ("Bonterra" or the "Company") announces election results of its 2024 annual general meeting held on June 12, 2024 ("2024 AGM"), representing its fiscal year ended 2023.

Bonterra is pleased to announce that shareholders have approved all matters voted on at the 2024 AGM, including: (i) to set the number of Directors at seven (7); (ii) to re-elect Messrs. Cesar Gonzalez, Marc-André Pelletier, Normand Champigny, Matthew Happyjack, Paul Jacobi, Matt Houk and Peter O'Malley as Directors; (iii) to appoint the Crowe MacKay LLP, as auditors of the Company for the ensuing year and to authorize the directors to fix their remuneration; and (iv) to consider and, if deemed advisable, adopt with or without variation, an ordinary resolution to approve the Company's Omnibus Equity Incentive Compensation Plan.

Details in respect of such matters were provided in the Company's management information circular dated May 2, 2024. A total of 76,212,048 common shares were voted at the Meeting, representing approximately 57% of the common shares issued and outstanding as of the record date.

Results from the vote are presented in the table below:

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/212706_d554715564d0b987_001full.jpg

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
819-825-8678 | 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.

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, without limitation, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive conditions, as described in more detail in our 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/212706

FAQ

What was the outcome of Bonterra Resources' 2024 AGM?

Shareholders approved all matters, including the re-election of seven directors and the appointment of Crowe MacKay LLP as auditors for the ensuing year.

When and where was Bonterra Resources' 2024 AGM held?

The AGM was held on June 12, 2024, in Val-d'Or, Quebec.

How many shares were voted at Bonterra Resources' 2024 AGM?

A total of 76,212,048 common shares were voted at the meeting.

What percentage of Bonterra Resources' issued shares were voted at the 2024 AGM?

Approximately 57% of the issued and outstanding shares were voted.

Which directors were re-elected at Bonterra Resources' 2024 AGM?

Cesar Gonzalez, Marc-André Pelletier, Normand Champigny, Matthew Happyjack, Paul Jacobi, Matt Houk, and Peter O'Malley were re-elected.

What is the significance of the Omnibus Equity Incentive Compensation Plan approved at Bonterra Resources' 2024 AGM?

The plan is designed to attract and retain key talent by providing equity-based incentives.