TORONTO, ONTARIO--(Marketwired - Jan. 3, 2017) - Bold Ventures Inc. (TSX VENTURE:BOL) ("Bold Ventures" or the "Company") is pleased to announce that the Company has closed a non-brokered private placement (the "Offering") with the sale of 4,000,000 flow-through units ("FT Units") for gross proceeds of $200,000.
Each FT Unit comprises one (1) flow-through common share priced at $0.05 and one (1) common share purchase warrant ("Warrant"), with each Warrant entitling the holder to acquire one (1) common share at a price of $0.12 until December 30, 2018. The Company paid a cash finder's fee of $10,000.
The securities issued are subject to a hold period expiring on May 1, 2017.
Bold Ventures works in both Ontario and Québec. In Ontario, Bold has an extensive land position located in and around the Ring of Fire area of the James Bay Lowlands. The company has earned a "carried" 10% interest in the Koper Lake Project directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting stage. Bold is earning a 100% interest in the Wilcorp gold property (subject to a 1% NSR) located approximately 14 km east of the town of Atikokan in Northwestern Ontario. In Québec, Bold's primary focus is on two projects. The Lac Surprise Project where Bold can earn up to 60%, is located in west central Québec, approximately 50 km (30miles) south of Chapais and within the historic Chibougamau-Chapais copper-gold camp. Bold is also exploring its 100% owned Lac Grasset project that straddles the Sunday Lake Deformation Zone in the Matagami area, within the historically prolific Abitibi Greenstone belt of Northwestern Québec. Balmoral Resources Ltd. has seen success over the past few years in locating and expanding several gold and base metal discoveries proximal to the Sunday Lake Deformation Zone and has expanded its land position to surround Bold's property (see Bold news release dated September 30, 2014).
Richard E. Nemis, President and Chief Executive Officer
David B. Graham, Executive V.P.
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.