Bold Ventures Announces Final Closing of Non-Brokered Private Placements
TORONTO, ONTARIO--(Marketwired - May 6, 2016) -
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Bold Ventures Inc. (TSX VENTURE:BOL) (the "Company" or "Bold") is pleased to announce that, further to its Press Releases of April 21, 2016 and April 22, 2016, it has closed the final tranches of its non-brokered private placements (the "Offering") with the sale of 2,900,000 flow-through units ("New FT Units") for gross proceeds of $101,500 and 3,400,000 working capital units ( "WC Units") for gross proceeds of $85,000. The securities issued are subject to a hold period expiring on September 6, 2016. Pursuant to the Offering, the Company raised an aggregate of $350,000 of working capital and $301,500 of flow-through funds.
Each New FT Unit comprises one (1) flow-through common share priced at $0.035 and one (1) common share purchase warrant (each a "Warrant"), with each Warrant entitling the holder to acquire one (1) common share at a price of $0.05 until May 5, 2018. Each WC Unit comprises one (1) common share of the Company priced at $0.025 and one (1) common share purchase warrant (each a "WC Warrant"), with each WC Warrant entitling the holder to acquire one (1) common share at a price of $0.05 until May 5, 2018. The Company paid cash finder's fees of $13,720 and issued 514,000 broker warrants ("Broker Warrants") in respect of the final closing. Each Broker Warrant entitles the holder to acquire a Broker Unit comprising a common share, priced at $0.05, and a Warrant until May 5, 2018 at a price of $0.05 per Broker Warrant.
Bold Ventures President and CEO Richard Nemis stated that, "these funds will be very helpful in a tough resource market. We are very pleased to have the drill turning again!"
For more information concerning Bold Ventures Inc., please visit our web site www.boldventuresinc.com.
Richard E. Nemis, President and Chief Executive
David Graham, Officer Executive Vice President
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
