Val-d’Or, Quebec–(Newsfile Corp. – December 9, 2020) – Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (“Bonterra” or the “Company“) is pleased to announce that it has closed the first tranche of the non-brokered private placement previously announced on November 23, 2020 and December 3, 2020 (the “Offering”). In this first tranche, the Company raised aggregate gross proceeds of $12,270,375 (the “First Tranche“) from the sale of 10,669,891 common shares of the Company (the “Shares”) at a price of $1.15 per Share.