Bold Ventures Inc. - Update
TORONTO, May 14, 2015 - Bold Ventures Inc. (TSX VENTURE:BOL) ("Bold" or the "Company") wishes to announce the release of its updated Corporate Presentation which can be viewed on its website at www.boldventuresinc.com. Given recent developments, the new presentation highlights the Company's assets and plans for exploration in the Ring of Fire area of Ontario, and reviews the progress at Bold's Lac Surprise and Lac Grasset projects in Quebec. In addition to the updated Corporate Presentation, on April 9, 2015 the Company announced a brokered private placement (the "Offering") of up to 10,000,000 working capital units (the "WC Units") of the Company at a price of $0.05 per WC Unit for up to $500,000. The Offering is being led on a best efforts basis by IBK Capital Corp. (the "Agent").
The Offering is expected to close, subject to approval from the TSX Venture Exchange, on or about June 5, 2015 or such other date as is agreed to between the Company and the Agent (the "Closing"). Proceeds from the Offering will be used for general working capital and to advance the Company's exploration projects.
Each WC Unit consists of one (1) common share of the Company priced at $0.05 per common share and one (1) common share purchase warrant (a "WC Warrant"), with each WC Warrant entitling the holder to acquire one (1) common share at a price of $0.05 until five (5) years from Closing.
The Company has agreed to pay the Agent a commission of 8% cash and issue broker warrants ("Broker Warrants") equal to 8% of the number of WC Units sold under the Offering. Each Broker Warrant entitles the holder to acquire a WC Unit for five (5) years from Closing at a price of $0.05 per Broker Warrant.
All securities to be issued pursuant to the above-referenced private placement will be subject to a statutory four-month hold period.
2015 Summer Program
The Company is currently finalizing plans for the 2015 summer field season in Quebec. The program contemplates geophysical surveys and detailed sampling in the vicinity of the recently discovered gold showings at Lac Surprise that were announced in a news release dated February 17, 2015, see Lac Surprise Project Details. The intent of this program is to further develop the highest potential drill targets for follow up drill testing.
The Company also plans to carry out a geochemical survey at its 100% owned Lac Grasset project located in the Abitibi Greenstone belt of Northwestern Quebec. Please see the Lac Grasset Project Details at our website
Finally, Bold is planning its summer program for its Ring of Fire project in Northern Ontario. The Company is in possession of exploration permits for those areas and is in the process of ensuring all necessary agreements with local First Nations are in place.
Details of these three programs will be outlined in the near future.
Richard E. Nemis, President and Chief Executive Officer
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.
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
Contact
Bold Ventures Inc.
416-864-1456
www.boldventuresinc.com
