THUNDER BAY – MINING – Bold Ventures Inc. (BOL:TSX.V) (“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).