Bolero Announces Results of Annual and Special Meeting, Effective Date of Name Change, Extension of Warrants and Proposed Private Placement of Units
Published : October 02, 2012
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OAKVILLE, ONTARIO--(Marketwire - Oct. 2, 2012) - Bolero Resources Corp. (the "Company") (News - Market indicators), (FRANKFURT:U7N1) announces that the Annual and Special Meeting of the Company (the "Meeting") was held on September 17, 2012 at 10:00 am. The shareholders approved all resolutions set forth in the notice of Meeting. Specifically, R. Bruce Duncan, Greg Lipton and Bruce D. Coventry were elected as directors of the Company and McGovern, Hurley, Cunningham, LLP were re-appointed as auditors. All special items of business including modifications to the Company's stock option plan, the granting of common shares to a senior officer and various consultants of the Company and the proposal to change the name of the Company to "Canada Carbon Inc." were also approved, as detailed below.

Amendments to Stock Option Plan

At the Meeting, disinterested shareholders approved amendments to the stock option plan (the "Plan"). Specifically, disinterested shareholders approved an increase in the number of common shares of the Company ("Common Shares") that may be issued annually under the Plan from 4,600,000 Common Shares to 7,920,900 Common Shares. The TSX Venture Exchange (the "Exchange") has approved the amendments to the Plan.

Granting of Common Shares to Senior Officers and Consultants

At the Meeting, disinterested shareholders approved the granting of a total of 2,500,000 Common Shares to Paul Ogilvie, the Chief Executive Officer of the Corporation (the "Ogilvie Shares"). In addition, disinterested shareholders approved the granting of 500,000 Common Shares to each of six consultants of the Company for a total of 3,000,000 Common Shares (the "Consultant Shares", and together with the Ogilvie Shares, the "Inducement Shares"). The Exchange has approved the issuance of the Inducement Shares to Mr. Ogilvie and the Consultants. The Inducement Shares are subject to a four month and one day hold period expiring on January 18, 2013.

Name Change and Symbol Change

At the Meeting, shareholders also approved a special resolution to change the name of the Company from "Bolero Resources Corp." to "Canada Carbon Inc." (the "Name Change"). The Company is pleased to announce that it has filed articles of amendment with the applicable corporate registries affecting the Name Change. Effective on Friday, October 5, 2012, the Common Shares will commence trading on the Exchange under the name Canada Carbon Inc., and symbol "CCB".

Proposed Private Placement

The Company also announces its intention to complete a non-brokered private placement (the "Private Placement") of up to an aggregate of 12,000,000 units ("Units") at $0.10 per Unit for gross proceeds of up to $1,200,000.00. Each Unit will consist of one Common Share and one Common Share purchase warrant ("Warrant"). Each Warrant will entitle the subscriber to acquire one additional Common Share of the Company for a period of two years from closing at $0.20 per Common Share.

The Private Placement is subject to certain customary conditions, including, but not limited to, the execution of definitive subscription agreements with subscribers, and the receipt of all necessary regulatory approvals, including the approval of the Exchange. Closing of the Private Placement is anticipated to occur in one or more tranches, with the first tranche anticipated to close on or about October 5, 2012. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months plus one day from the date of completion of the Private Placement, in accordance with applicable securities legislation.

It is currently anticipated that certain insiders of the Company will be participating for greater than 25% of the Private Placement. The net proceeds from the Private Placement will be used to complete the acquisition of mining claims from Uragold Bay Resources Inc. and for general working capital. 

Extension of Warrant Term

The Company also announces that it has applied for Exchange approval to extend the expiry date of 4,000,000 common share purchase warrants initially issued by the Company on October 5, 2010. Such warrants are exercisable at $0.30 per share. The Company is seeking the extension of the expiry date of such warrants for an additional two year period. All other terms of the warrants would remain the same. 

ABOUT BOLERO RESOURCES CORP. (News - Market indicators)

Bolero Resources is a junior natural resource company focused on the acquisition and development of graphite properties throughout Canada. Bolero holds a 100% interest in 38 mineral claims located in Maria Township, 17 kilometres south of the community of Bissett Creek on the Trans Canada Highway between the cities of Ottawa and North Bay, Ontario. These claims cover an area of approximately 2,000 hectares (4,940 acres) that surround and are contiguous to Northern Graphite's Bissett Creek graphite deposit. Northern Graphite recently reported the extraction of very large high purity flake graphite consistent across the entire resource with overall recovery rates of 97%. (NGC.V News Release 23/04/2012)

Throughout 2012 Bolero has been focusing on its primary goals of building and strengthening its core operations in mineral exploration and development by acquiring and developing quality-mining projects to ultimately increase shareholder value.

On behalf of the Board of Directors

R. Bruce Duncan, Executive Chairman

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at

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.

Bolero Resources Corp.
R. Bruce Duncan
Executive Chairman
(905) 337-0002
(905) 337-0777 (FAX)
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Bolero Resources Corp.

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Bolero Res. is a gold and copper exploration company based in Canada.

Bolero Res. holds various exploration projects in Canada.


Bolero Res. is listed in Canada and in Germany. Its market capitalisation is CA$ 852 000 as of today (US$ 632 517, € 565 154).

Its stock quote reached its highest recent level on November 20, 2009 at CA$ 0.69, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Bolero Res. has 34 080 000 shares outstanding.

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Annual reports of Bolero Resources Corp.
Annual Report 2007
Nominations of Bolero Resources Corp.
9/27/2012Appoints Bruce Coventry to Board of Directors
5/10/2011Welcomes Greg Lipton to Its Board of Directors
3/28/2011Welcomes Alex Knox to Its Advisory Board
3/26/2008 Announces Management Appointments
Project news of Bolero Resources Corp.
7/12/2011(Red Chris South)Drilling Now Underway on Bolero's "Red Chris South" Prospect
7/5/2011(Red Chris South)Work Program Now Underway at "Red Chris South" Prospect
6/4/2008(Bald Butte)Continues to Report Excellent Drill Results for the Bald But...
5/5/2008(Bald Butte)Drills 1,098 Feet @ 0.068% Mo. at Bald Butte ? Drilling Cont...
3/31/2008(Bald Butte)Bald Butte has Indicated Resource Containing 168.5 Million P...
2/27/2008(Bald Butte) Announces Changes to Board of Directors and Corporate Updat...
2/13/2008(Cannivan Gulch)Cannivan Gulch Has Indicated Resource Containing 225 Million...
1/7/2008(Cannivan Gulch)Announces Drilling Results for Cannivan Gulch Project - Hol...
11/13/2007(Cannivan Gulch) Intersects 0.054% Mo (0.090% MoS2) Over 710 Feet And Provid...
11/1/2007 Arranges US$10 Million Term Facility And NI 43-101 For Acqu...
10/17/2007(Bald Butte) Drills 110 Feet of 0.106% Mo (0.177% MoS2) at Bald Butte
9/13/2007(Cannivan Gulch) Begins Drilling at Cannivan Gulch
6/21/2007(Bald Butte)Begins 5,500 Metre Drill Program at Bald Butte
4/10/2007(Bald Butte)A 5,500 Metre Drill Program For Confirmatory Infill And Ste...
Corporate news of Bolero Resources Corp.
10/2/2012Announces Results of Annual and Special Meeting, Effective D...
6/28/2011Aeroquest Commences Multiple Airborne Surveys Over BC "REE" ...
6/23/2011Retains Falcon Drilling for Multiple 2011 Drill Programs
5/5/2011Retains Discovery Consultants for 2011 Work Programs
6/12/2008CEO Interview
5/29/2008Arcadia Drilling Commences
5/9/2008Announces Option Grant
3/7/2008Bolero Resources
10/16/2007Secures Large, Undeveloped Molybdenum Property In Colorado
9/19/2007Announces Name Change And Continuance of its Corporate Chart...
7/16/2007Provides Update on Bald Butte Drill Program and Results of J...
5/30/2007New Drilling to Test Property's Deep Mineral Potential
4/19/2007announces drill program at Cannivan Gulch Moly Project
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