|By Marketwired .||
|June 2, 2014 08:30 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/02/14 -- Bold Ventures Inc. (TSX VENTURE: BOL) ("Bold" or the "Company") is pleased to announce a brokered private placement (the "Offering") of up to 3,571,429 working capital units (the "WC Units") of the Company at a price of $0.07 per WC Unit for up to $250,000 and up to 7,142,857 flow-through units (the "FT Units") of the Company at a price of $0.07 per FT Unit for up to $500,000. The Offering is being led on a best efforts basis by IBK Capital Corp. (the "Agent").
The Offering is expected to close, subject to approval from the TSX Venture Exchange, on or about June 27, 2014 or such other date as is agreed to between the Company and the Agent (the "Closing"). Proceeds from the Offering will be used for general working capital and to fund exploration on the Company's properties in Quebec.
Each WC Unit consists of one (1) common share of the Company priced at $0.07 per common share 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 $0.10 until four (4) years from Closing.
Each FT Unit consists of one (1) flow-through common share priced at $0.07 per common share 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 $0.10 until four (4) years from Closing.
The Company has agreed to pay the Agent a commission of 8% cash and issue broker warrants ("Broker Warrants") equal to 8% of the number of WC Units and FT Units sold under the Offering. Each Broker Warrant entitles the holder to acquire a WC Unit for four (4) years from Closing at a price of $0.07 per Broker Warrant.
Insiders of the Company may subscribe for up to $80,000 of the Offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contain in section 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 to be issued to the insiders does not exceed 25% of its market capitalization.
All securities issued pursuant to the above-referenced private placements are subject to a statutory four month hold period.
Richard E. Nemis, President and Chief Executive Officer
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.
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.
Bold Ventures Inc.
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