Toronto, Ontario, January 31, 2020 – Bold Ventures Inc. (BOL: TSX.V) (the “Company” or “Bold”) is pleased to announce that the Company received robust support for all matters presented at the Annual General and Special Meeting of Shareholders held on January 29, 2020 (the “Meeting”). The Company received proxies for 43.9 million shares in favour of the consolidation of its outstanding capital on the basis of one (1) post-consolidated common share for up to each ten (10) currently issued and outstanding common shares. At the Meeting, Management tabled a resolution to consolidate the outstanding capital on the basis of one (1) post-consolidated common share for each five (5) currently issued and outstanding common shares (the “Consolidation”) which was approved by 89% of the shareholders voting at the Meeting. The Company plans to effect the Consolidation next week and will provide further particulars of the commencement of trading on a post-consolidated basis and the new CUSIP number for the post-consolidated common shares prior to the Consolidation. There are currently 125,670,246 common shares issued and outstanding. Following the Consolidation, there will be 25,134,049 post-consolidated common shares issued and outstanding after giving effect to the Consolidation.
The Board of Directors, comprising David Graham, Bill Johnstone, Jim Glover, Ian Brodie-Brown and Steve Brunelle, were re-elected. The Board of Directors re-appointed Management with no change from the previous team.
About Bold Ventures Inc.
The Company explores for Base and Precious metals in Canada. Bold has options to earn a 100% interest in the Farwell Gold Base Metals project located approx. 55km northwest of Wawa, Ontario and the Wilcorp Gold Project located 14 km east northeast of Atikokan, Ontario. Bold and its subsidiary Rencore Resources Ltd. have extensive holdings comprised of over 15 claim groups in and around the Ring of Fire area of the James Bay Lowlands. The Company has also earned a 10% carried interest in all chromite resources and a 40% working interest in all other metals at the Koper Lake Project and has the option to earn an additional 10% carried interest in chromite and 40% of all other metals. The Koper Lake Project is located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting stage.
For additional information about Bold Ventures and our projects please visit www.boldventuresinc.com or contact Bold Ventures Inc. at 416-864-1456.
“David B Graham”
President and CEO