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TORONTO, ON / ACCESSWIRE / October 18, 2024 / Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") is pleased to announce that further to its press releases dated July 4, 2024, August 1, 2024, August 19, 2024, August 22, 2024 and September 19, 2024 it has completed the final tranche of a non-brokered private placement offering with the placement of 1,000,000 flow-through units ("FT Units") for aggregate gross proceeds of $50,000.00 (the "Final Closing"). The Company raised a total of $274,200 through the placement of 5,205,000 working capital units ("WC Units") and 1,320,000 FT Units.
Each WC Unit consisted of one (1) Common Share and one (1) Common Share purchase warrant (a "WC Warrant"). Each WC Warrant entitled the holder to purchase one (1) Common Share (a "WC Warrant Share") at a price of $0.06 per WC Warrant Share until the date that is three (3) years following closing.
Each FT Unit consists of one (1) flow-through common share, priced at $0.05, and one-half (0.5) of a common share purchase warrant. Each full warrant (a "Warrant") entitles the holder to purchase one (1) common share (a "Warrant Share") at a price of $0.10 per Warrant Share until two (2) years following closing. The proceeds from the sale of the FT Units will be used for exploration work that qualifies for Canadian Exploration Expenses (CEE).
The securities issued on the Final Closing are subject to a hold period expiring on February 19, 2025.
Insider Subscriptions
Two insiders subscribed for 1,000,000 FT Units of the Final Closing for proceeds of $50,000. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company issued to the insiders does not exceed 25% of its market capitalization.
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 website here.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada.
Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of 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 boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.