Toronto, Ontario--(Newsfile Corp. - June 18, 2018) - Further to the press release of Bonterra Resources Inc ("Bonterra") dated June 18, 2018, Eric Sprott announces that he has entered into a support agreement with Bonterra in connection with its proposed acquisition of all of the outstanding common shares ("Shares") of Metanor Resources Inc. ("Metanor") that Bonterra does not already own, by way of a plan of arrangement. Mr. Sprott owns and controls 12,126,800 Shares and 5,128,500 warrants to acquire Shares, representing approximately 11.9% of the Shares and 16.1% of the outstanding Shares on a partially diluted basis assuming exercise of such warrants.
Sprott has agreed, among other things, to not, or permit any of his controlled entities to solicit proxies, or become a participant in a solicitation in opposition to, or competition with the proposed transaction or the proposed acquisition agreement between Bonterra and Metanor or to take any other action of any kind which might reasonably be regarded as likely to reduce the success of, or delay or interfere with the completion of, the transactions contemplated by the acquisition agreement.
Mr. Sprott intends to hold the Shares for investment purposes and to support the proposed transaction, and may acquire additional Shares from time to time. If the proposed transaction does not close, Mr. Sprott may acquire additional securities of Metanor Resources either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Metanor Resources is located at 2872 chemin Sullivan, bureau 2, Val-d'Or, Québec, J9P OB9. A copy of Mr. Sprott's early warning report with respect to the foregoing will appear on Metanor Resource's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by contacting Mr. Sprott at (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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