|By Marketwired .||
|July 11, 2014 08:21 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/11/14 -- Bold Ventures Inc. (TSX VENTURE: BOL) ("Bold" or the "Company") is pleased to announce that further to the press release of June 27, 2014, it has closed the first tranche of a brokered private placement (the "Offering") with the sale of 7,692,308 flow-through units ("FT Units") and 409,712 working capital units ("WC Units") for gross proceeds of $526,631.30. IBK Capital Corp. (the "Agent") acted as Agent for the Offering.
Proceeds from the Offering will be used to fund exploration on the Company's Lac Surprise Property in Quebec, under option from Northern Superior Resources Inc.
Each FT Unit consists of one (1) flow-through common share of the Company priced at $0.065 per FT Unit and one (1) common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one (1) common share at a price of $0.10 until four (4) years from closing.
Each WC Unit consists of one (1) common share of the Company priced at $0.065 per WC Unit and one (1) common share purchase warrant (each a "WC Warrant"). Each WC Warrant entitles the holder to acquire one (1) common share at a price of $0.10 per common share until four (4) years from closing.
The Agent received a cash commission of $42,130.50 and 648,162 broker warrants ("Broker Warrants") to acquire WC Units at a price of $0.065 per Broker Warrant for a period of four (4) years from closing.
All securities issued are subject to a hold period expiring on November 11, 2014.
The Company plans to close the balance of the Offering within a week.
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.
Richard E. Nemis
President and Chief Executive Officer