Bold Ventures Inc. (BOL:TSX.V) (the "Company" or "Bold") is pleased to announce that further to its press release dated July 4, 2024, it has completed the first tranche of a non-brokered private placement offering with the placement of 1,755,000 WC Units (as defined below) for gross proceeds of $70,200.00 (the "Initial Closing"). The private placement offering is for 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".
Each WC Unit consists of one (1) Common Share and one (1) Common Share purchase warrant (a "WC Warrant"). Each WC Warrant entitles 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 after the date of the Initial 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 the date that is two (2) years after the date of the Initial Closing.
The securities issued at this Initial Closing of the Offering are subject to a hold period expiring on December 1, 2024. In order to allow for the completion of additional subscriptions to the offering, closing is expected to occur on or before August 16, 2024 or such other date as agreed upon subject to TSX Venture Exchange approval.
Proceeds from the Offering will be used for working capital, for exploration as qualified Canadian Exploration Expense (in the case of the FT Offering), and for property maintenance and acquisitions.
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.
"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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Table 1: Average cyanide gold recovery at BDT1 by weathering and lithology