TORONTO, May 19, 2021 -
Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") is pleased to announce the first closing of a non-brokered private placement offering of up to 3,750,000 working capital units (the "WC Units") of the Company at a price of $0.08 per WC Unit for up to $300,000 (the "Offering"). See Bold press release dated May 13, 2021.
The first tranche consists of 1,300,000 WC Units for proceeds totalling $104,000. The Company paid commission equal to $4,060 cash and 50,750 Broker Warrants to qualified finders in connection with the Offering. Each Broker Warrant is comprised of a unit consisting of a share and one-half (0.5) warrant. A full warrant and 15 cents will acquire an additional common share for a period of two (2) years from the date of closing. The Offering will remain open until May 28, 2021 or until fully subscribed or such other time as the Company may elect, subject to regulatory approval. The securities issued are subject to a hold period expiring on September 19, 2021.
The Offering
Each WC Unit comprises one (1) common share of the Company priced at $0.08 and one-half (0.5) of a common share purchase warrant with each full warrant (a "WC Warrant") entitling the holder to acquire one (1) common share at a price of $0.15 until two (2) years following the closing of the Offering. The proceeds from the Offering will be used for general working capital, property acquisition, exploration and expenses of the offering.
In connection with the WC Offering, the Company may pay a finder's fee to qualified finders in consideration for their assistance with the Offering. The finder's fees may be payable in cash and or securities of Bold at the discretion of the Company and in accordance with the rules of the TSXV.
All securities to be issued pursuant to the Offering are subject to a statutory four-month and one-day hold period and regulatory approval.
Please visit the Bold website at www.boldventuresinc.com and see our recent news and project information.
For additional information, contact 416-864-1456 or email info@boldventuresinc.com.
About Bold Ventures Inc.
The Company explores for Gold and Base Metals in Canada. Bold is exploring properties located within active gold camps of Northern Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
For additional information about Bold Ventures and our projects, please visit www.boldventuresinc.com, contact us at 416-864-1456 or email us at info@boldventuresinc.com.
"David B Graham"
David Graham
President and CEO
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.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
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SOURCE: Bold Ventures Inc.
