Bold Ventures Inc. Closes First Tranche of Critical Minerals Non-Brokered Private Placement Offering and Provides Update
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 Inc. Closes First Tranche of Critical Minerals
Non-Brokered Private Placement Offering and Provides
Update
Toronto, Ontario, June 29, 2022 – Bold Ventures Inc. (BOL: TSX.V) (the
“Company” or “Bold”) is pleased to report the first closin g of its Critical
Minerals Flow-Through Units Private Placement (the “CMFT Units”) for
gross proceeds of $105,750 comprising 705,000 CMFT Units. Each CMFT
Unit is priced at $0.15 and consists of one (1) common share and one-half
(0.5) of a share purchase warrant. Each full warrant (a “ Warrant”)
entitles the holder to purchase one (1) common share (a “ Warrant
Share”) at a price of $0. 25 per Warrant Share unti l June 29, 2024. The
Company paid a cash commission of $1050 and issued 7000
compensation warrants (the “ Compensation Warrants”) to an eligible
finder. Each Composition Warrant entitles the holder to acquire one
common share at $0.15 until June 29, 2024. T he securities issued are
subject to a hold period expiring on October 30, 2022.
Bold is one of the earliest junior explorers to offer the Critical Minerals
Exploration Tax Credit (CMETC) that was introduced as part of the
Federal Budget as approved in April of this year. When combined with
the existing Flow-Through write-off of 100% of qualified Canadian
Exploration Expenses, the total tax write-off for the CMFT Units is 130%.
The proceeds from the sale of CMFT Units will be used to explore the
Farwell and Burchell Projects.
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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
The Non-Brokered Private Placement Offering
Bold is extending the closing of its non-brokered private placement (see
Bold press release dated June 15, 2022) consisting of up to a remaining
3,295,000 CMFT Units for up to $494,250 and up to 4,000,000 working
capital units (the “WC Units”) for up to $440,000 (the “Offering”) for a
further thirty (30) days.
Each WC Unit is priced at $0. 11 and consists of one (1) common share
and one-half (0.5) of a share purchase warrant. Each full warrant (a “ WC
Warrant”) entitles the holder to purchase one (1) common share (a “ WC
Warrant Share”) at a price of $0.15 per WC Warrant Share until the date
which is twenty-four (24) months following the Closing of the Offering.
Each CMFT Unit is priced at $0. 15 and consists of one (1) common share
and one -half (0.5) of a share purchase warrant. Each full warrant (a
“Warrant”) entitles the holder to purchase o ne (1) common share (a
“Warrant Share ”) at a price of $0. 25 per Warrant Share until the date
which is twenty-four (24) months following the Closing of the Offering.
Eligible Finders may receive a fee in cash and warrants.
The proceeds from the sale of WC units will be used for general working
capital, administration, property maintenance and acquisitions. The
proceeds from the sale of CMFT Units will be used to explore for critical
minerals, primarily copper and zinc, for which the expenditures made on
the Company’s mineral properties allow the subscriber to be eligible for
the newly created Critical Mineral Exploration Tax Credit of an additional
30%. All securities issued under the Offering are subject to a statutory
four-month hold period.
Burchell Gold-Copper Project (Burchell)
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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
The Company received final regulatory approval of its option to earn a
100% interest in the Burchell Project (a full description of the earn-in
option agreement may be found on the Burchell project page). An initial
reconnaissance survey of the Burchell claim group took place this spring.
The initial compilation of historical data has commenced. A first phase of
prospecting, geological mapping and sampling is anticipated to
commence in August.
The Farwell Gold-Copper Project (Farwell)
The initial compilation study of the historical work carried out at the
Farwell Project has been completed. Dr. James Mungall, P.Geo. has
completed an interpretation of Bold’s recent VTEM survey. This latest
work is being imported into the geological compilation study for
subsequent drill target selection. A field program designed to map and
sample new areas, identified by the VTEM survey, is scheduled to begin
in the latter part of July. Based on these results a follow-up program that
will refine and prioritize drill targets will be completed. (See the Farwell
Project Details and a PDF version of the VTEM report on the Farwell
Project page.
The Company also reports that 1.6M common share purchase warrants
were exercised at $0.10 for gross proceeds of $160,000.
Further to the recent Provincial Election results the Company notes the
election night statements by Premier Doug Ford that emphasized the
Province’s support for access into the Ring of Fire, an emerging, multi-
metals mining district located in the James Bay Lowlands of Northern
Ontario. Bold holds significant assets in and around the Ring of Fire.
Bold Ventures management believes our suite of Battery, Critical
and Precious Metals exploration projects are an ideal combination
of exploration potential meeting future demand (see Bold Press
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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
release dated May 10, 2022). Our target commodities comprise: 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.
The technical and scientific disclosures in this news release ha ve been reviewed and
approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) under National
Instrument 43-101.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. Bold
is exploring properties located in active gold camps within 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.
As a result of the current COVID-19 virus concerns, the Company’s management
and contractors are following public guidelines and taking recommended steps
to protect the health and safety of all personnel while carrying out oper ations.
As a result of the COVID-19 pandemic giving rise to local and national anti-virus
measures, the scheduling of activities is subject to change. COVID-19 impacts
may affect timing and availability of go ods and services for the foreseeable
future.
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.
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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
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,
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.