TORONTO, ONTARIO--(Marketwired - Jun 2, 2015) - Bold Ventures Inc. (TSX VENTURE:BOL ) ("Bold" or the "Company") wishes to announce that it has commenced a soil sampling program at its Lac Grasset project located in Northwestern Quebec within the Abitibi Greenstone belt proximal to the Grasset - Sunday Lake Deformation Zone. Lac Grasset consists of 53 claims that comprise 2942 hectares (7271 acres).
Upon completion of the soil sampling survey, additional prospecting will follow up on the results of the initial prospecting program carried out in the summer of 2013. For additional information regarding this project please visit our website. Please view the Lac Grasset project details, charts and maps.
On April 9, 2015 the Company announced a brokered private placement (the "Offering") of up to 10,000,000 working capital units (the "WC Units") of the Company at a price of $0.05 per WC Unit for up to $500,000. The Offering is being led on a best efforts basis by IBK Capital Corp. (the "Agent").
The Offering is expected to close on or about June 5, 2015 or such other date as is agreed to between the Company and the Agent (the "Closing"). Proceeds from the Offering will be used for general working capital and to advance the Company's exploration projects.
Each WC Unit consists of one (1) common share of the Company priced at $0.05 per common share and one (1) common share purchase warrant (a "WC Warrant"), with each WC Warrant entitling the holder to acquire one (1) common share at a price of $0.05 until five (5) years from Closing.
The Company has agreed to pay the Agent a commission of 8% cash and issue broker warrants ("Broker Warrants") equal to 8% of the number of WC Units sold under the Offering. Each Broker Warrant entitles the holder to acquire a WC Unit for five (5) years from Closing at a price of $0.05 per Broker Warrant.
All securities to be issued pursuant to the above-referenced private placement will be subject to a statutory four-month hold period.
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.