Toronto, Ontario May 6, 2016 – Bold Ventures Inc. (BOL:TSX.V) (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 or contact Bold Ventures Inc. at 416-864-1456.
“Richard E. Nemis”
Richard E. Nemis,
President and Chief Executive Officer
“David B. Graham”
David B. Graham
Executive Vice President