Bold Ventures Inc. (TSXV: BOL) has recently concluded a non-brokered private placement, generating a total of $776,800. This financial maneuver, detailed in their announcement, involved the sale of 6,000,000 working capital units at a price of $0.08 per unit, amounting to $480,000. Additionally, the company sold 3,297,776 flow-through units priced at $0.09 per unit, bringing in an extra $296,800. Together, these offerings are aimed at fortifying the company’s capital for ongoing projects.
Details of the Offering
The offerings comprised two distinct unit types. Each working capital unit included one common share and one full share purchase warrant, known as a WC Warrant, which allows the holder to purchase an additional common share at $0.12 until la fine del periodo stabilito. The funds acquired from these units will be allocated towards general working capital, maintenance of properties, and exploration costs.
Flow-Through Units Explained
On the other hand, each flow-through unit comprised one common share and half of a common share purchase warrant. Holders of a complete FT Warrant can acquire an additional common share at $0.12 fino alla fine del periodo stabilito. The revenue generated from the sale of flow-through units is earmarked for exploration activities that qualify as Canadian Exploration Expenses (CEE).
In total, the company distributed 454,333 compensation warrants to two eligible finders, alongside cash finder fees totaling $36,719.99. These warrants provide the right to purchase common shares at $0.12 fino alla fine del periodo stabilito, e fino alla fine del periodo stabilito, rispettivamente.
Management Insights and Future Plans
Bruce MacLachlan, the President and COO of Bold Ventures, expressed gratitude towards existing shareholders and welcomed new investors. He stated, “We appreciate the unwavering support from our shareholders and look forward to the outcomes of our drilling initiatives.” This commitment to transparency and shareholder engagement underscores the company’s strategic approach to capitalizing on its exploration potential.
Insider Participation
Interestingly, three insiders participated in the private placement, acquiring 420,000 flow-through units for gross proceeds of $37,800. These insider transactions are exempt from certain regulatory requirements due to their limited market impact, as the fair market value of the securities issued does not exceed 25% of the company’s market capitalization.
Exploration Focus and Future Prospects
Bold Ventures is keenly focused on exploring for precious, battery, and critical metals across Canada, especially within the vibrant regions of Thunder Bay and Wawa, Ontario. The company holds valuable assets in the emerging Ring of Fire multi-metals district in Northern Ontario’s James Bay Lowlands, which presents significant opportunities.
The management firmly believes that their portfolio of exploration projects aligns perfectly with the rising demand for essential commodities, including copper, nickel, gold, and platinum. The complete list of critical metals and insights into provincial and federal electrification plans can be found on their official website.
For further information on Bold Ventures and their latest projects, interested parties are encouraged to visit their website or get in touch via the provided contact details.