Bold Ventures Announces Non-Brokered Private Placement
BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
NEWS RELEASE - For Immediate Release
Bold Ventures Announces Non-Brokered Private Placement
Toronto, Ontario, June 1, 2023 – Bold Ventures Inc. (BOL: TSX.V) (the “Company” or
“Bold”) is pleased to announce a non-brokered private placement of up to 5,000,000
working capital units (“WC Units”) and up to 8,000,000 flow through qualified units
(“FT Units”). The WC units are priced at $0.06 per WC Unit. Each WC Unit is
comprised of a share and a warrant. Each warrant and $0.10 can acquire an
additional common share of Bold and may be exercised for a period of two years after
which the warrant expires. Each FT Unit is priced at $0.08. Each FT Unit consists of a
share and one-half warrant. A full warrant and $0.12 can acquire an additional
common share for a period of two years after which the warrant expires. Proceeds
from the sale of FT Shares will be used to incur “Canadian exploration expenses” as
defined in subsection 66.1(6) of the Income Tax Act.
The private placement will remain open until the earlier of June 30, 2023 and when
fully subscribed. Contact [email protected] or call 416-864-1456 for more
information.
An initial closing of 388,000 FT Units and 383,333 WC Units for gross proceeds of
$54,039.98 has been effected. The securities issued are subject to a hold period
expiring on October 1, 2023.
One insider subscribed for 250,000 WC Units for proceeds of $15,000. The insider
private placement is exempt from the valuation and minority shareholder approval
requirements of Multilateral Instrument 61 -101 (“ MI 61 -101”) by virtue of th e
exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61 -101 in that the fair
market value of the consideration for the securities of the Company issued to the
insider does not exceed 25% of its market capitalization.
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BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
Further to the Company’s press releases of November 1, 2022 and January 31. 2023,
it has agreed to issue 184,615 common shares of the Company to Dig Media Inc., dba
Investing News Network (“INN”) in settlement of advertising services provided by
INN to the Company pursuant to the Advertising Campaign Agreement dated October
31, 2022 for the period ending April 30, 2023 at a price of $0.065 per share, subject to
regulatory approval. The securities issued are subject to a hold period expiring on
October 1, 2023.
In other news, the Company’s partner KWG Resources Inc. at our Koper Lake Project
has recently changed its name to Canada Chrome Corporation.
The Koper Lake Project
Bold owns a 10% carried interest (through to production) in the Black Horse
Chromite NI 43-101 Inferred Resource of 85.9 Mt grading 34.5% Cr2O3 at a cut-off of
20% Cr2O3 (KWG Resources Inc., NI 43-101 Technical Report, Aubut 2015). Bold also
owns a 40% working interest in all other metals found within the Koper Lake claims
and has a Right of First Refusal on a 1% NSR covering all metals found within the
claim group.
The Black Horse is contiguous with the Blackbird Chromite deposits owned by Ring
of Fire Metals (formerly Noront Resources Inc.). The Koper Lake claims are located
approximately 300 m from their Eagle’s Nest Ni-Cu Massive Sulphide Deposit that is
in the permit acquisition stage. Chromite, nickel and copper are critical minerals that
will play an important role in the electrification plans of Ontario and North America.
The Company is encouraged by these ongoing developments in this emerging critical
mineral mining camp.
The environmental assessment process for all-weather road access to the Ring of Fire
is being developed as three proposed road projects: The Northern Road Link, The
Marten Falls Community Access Road and The Webeque Supply Road. Information
and progress regarding these projects may be accessed via the links provided on
Bold’s critical and battery metals page.
The Company invites people to visit our newly refreshed website at
www.boldventuresinc.com .
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BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
Bold Ventures management believes our suite of Battery, Critical and Precious Metals
exploration projects are an ideal combination of exploration potential meeting future
demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead
(Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium
(Cr). The Critical Metals list and a description of the Provincial and Federal
electrification plans are posted on the Bold website here.
About Bold Ventures Inc.
The Company explores for Battery, Critical and precious Metals in Canada. Bold
is exploring properties located in active gold and base metals camps in the
Thunder Bay and Wawa regions of 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
boldventuresinc.com or contact us at 416-864-1456 or email us at
“David B Graham”
David Graham
President and CEO
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.
Cautionary Note Regarding 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,
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BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
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.