Bold Ventures Announces Second Closing of Non-Brokered Private Placement

Toronto, Ontario, May 31, 2021 – Bold Ventures Inc. (BOL: TSX.V) (the “Company” or “Bold”) is pleased to announce the second closing of a non-brokered private placement offering of up to 3,750,000 working capital units (the “WC Units”) of the Company at a price of $0.08 per WC Unit for up to $300,000 (the “Offering”). See Bold press release dated May 13, 2021.

 

The second tranche consists of 1,250,000 WC Units for proceeds totalling $100,000. The Company paid commission equal to $7,000 cash and 87,500 Broker Warrants to qualified finders in connection with the Offering. Each Broker Warrant is comprised of a unit consisting of a share and one-half (0.5) warrant. A full warrant and 15 cents will acquire an additional common share for a period of two (2) years from the date of closing. The securities issued are subject to a hold period expiring on September 29, 2021. The Offering is being extended with an anticipated closing date of June 8, 2021.

 

The Offering

 

Each WC Unit comprises one (1) common share of the Company priced at $0.08 and one-half (0.5) of a common share purchase warrant with each full warrant (a “WC Warrant”) entitling the holder to acquire one (1) common share at a price of $0.15 until two (2) years following the closing of the Offering. The proceeds from the Offering will be used for general working capital, property acquisition, exploration and expenses of the offering.

 

In connection with the WC 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.

 

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.

 

For additional information about Bold Ventures and our projects please visit www.boldventuresinc.com or contact Bold Ventures Inc. at 416-864-1456.