TORONTO, ON / ACCESSWIRE / August 19, 2024 / Bold Ventures Inc. (TSX.V:BOL) (the "Company" or "Bold") wishes to announce that it is extending its non-brokered private placement, announced on July 4, 2024. This involves up to 8,000,000 working capital units (the "WC Units") of the Company at a price of $0.04 per WC Unit for up to $320,000 and up to 12,000,000 Flow Through units (the "FT Units") at a price of $0.05 per FT Unit for up to $600,000 both of which constitute the "Offering". The Company closed the first tranche of the offering on July 31, 2024 with the placement of 1,755,000 WC Units for proceeds of $70,200. The Offering will remain open until the earlier of the sale of the remaining 6,245,000 WC Units and the 12,000,000 FT Units and September 18, 2024.
The Offering
Each WC Unit comprises one (1) common share of the Company priced at $0.04 and one full common share purchase warrant (a "WC Warrant") entitling the holder to acquire one (1) common share at a price of $0.06 until three years (36 months) following the closing of the Offering. The proceeds from the WC Units will be used for general working capital, property maintenance, exploration and expenses of the offering
Each FT Unit comprises one common share of the Company priced at $0.05 and one half (1/2) of a common share purchase warrant. One full common share purchase warrant (a "FT Warrant") and $0.10 will acquire an additional common share until two years (24 months) following the closing of the Offering. The proceeds from the sale of the FT Units will be used for exploration work that qualifies for Canadian Exploration Expenses (CEE).
In connection with the 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 (4) month and one (1) day hold period and regulatory approval.
In other news, the Company reports that additional announcements are expected in September concerning the development of infrastructure and access to the Ring of Fire area. To view this information follow Massive Investments Infrastructure and Ring of Fire.
Among Bold's Ring of Fire assets is a 10% carried interest (through to production) in the Black Horse Chromite NI 43-101 Inferred Resource of 85.9 Mt grading 34.5% Cr2O3 at a cut-off of 20% Cr2O3 (KWG Resources Inc., NI 43-101 Technical Report, Aubut 2015). Bold also owns a 40% working interest in all other metals found within the Koper Lake claims and has a Right of First Refusal on a 1% NSR covering all metals found within the claim group.
The Black Horse is contiguous with the Blackbird Chromite deposits owned by Ring of Fire Metals (formerly Noront Resources Inc.). The Koper Lake claims are located approximately 300 m from their Eagle's Nest Ni-Cu Massive Sulphide Deposit that is in the permit acquisition stage. Chromite, nickel and copper are critical minerals that will play an important role in the electrification plans of Ontario and North America.
The technical information found within this news release has been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) for the purposes of NI 43-101.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold Critical and Battery Minerals page.
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.
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.
