Bonterra Resources Inc. Enters Into an Earn-In and Joint Venture Agreement with Osisko Mining Inc.

On November 28, 2023, Bonterra Resources Inc (TSXV: BTR) (“Bonterra”) executed a definitive earn-in and joint-venture agreement (the “Agreement”) with Osisko Mining Inc. (“Osisko”) for Bonterra’s Gladiator, Barry, Duke, and Lac Barry Projects.

Osisko took a security interest in the mineral properties subject to the agreement, gaining the right to acquire up to a 70% interest in Bonterra’s Gladiator and Barry Projects, in addition to the adjoining Duke and Lac Barry properties. Osisko’s acquisition of a security interest was novel for a joint venture of this nature and created a number of unique issues, including negotiations with private and publicly traded royalty holders.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central mining facility in Quebec, Canada. Bonterra’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits.

McMillan acted as lead counsel to Bonterra. Cory Kent and Andrew Spencer led the multidisciplinary team of lawyers that included Andjela Sabet, Michelle Wong (Capital Markets and Securities), Ted Thiessen (Tax), and Martin Thiboutot (Environmental; Mining).

As a national business law firm with exceptional capabilities to lead businesses through cross-border transactions and investments into Canada and within multifaceted regulatory regimes, McMillan provides real-time business solutions to our clients. Our Capital Markets & Securities Group is skilled at structuring and closing complex deals of all shapes and sizes in Canada, the US and internationally and in providing innovative transactional advice and solutions. Our understanding of business imperatives and our relationships with the regulators helps our clients stay ahead.