Bold Ventures Completes Initial Tranche of Non-Brokered Private Placement

Bold Ventures Inc. (BOL:TSX.V) has announced the completion of the first tranche of its non-brokered private placement offering. The company raised $70,200 through the issuance of 1,755,000 working capital units (WC Units). Each WC Unit comprises one common share and one common share purchase warrant, with the latter allowing the purchase of an additional common share at $0.06 until three years from the initial closing date.

The offering aims to raise up to $320,000 through 8,000,000 WC Units and up to $600,000 through 12,000,000 Flow Through units (FT Units), priced at $0.04 and $0.05 per unit, respectively. Each FT Unit consists of one flow-through common share and half of a common share purchase warrant, exercisable at $0.10 within two years.

Proceeds will be used for working capital, exploration qualified as Canadian Exploration Expense, property maintenance, and acquisitions. The securities are subject to a hold period expiring on December 1, 2024. Final subscriptions are expected to close by August 16, 2024, pending TSX approval.