Bold Ventures Announces Closing of Third Tranche Extension of Non-Brokered Private Placement and Insider Subscriptions
The exploration and resource development company, Bold Ventures Inc., recently disclosed that the third tranche extension of its non-brokered private placement has been successfully closed. This private placement consisted of the issuance of Flow-Through Units and Units, with a total of 12,074,564 Units and 2,981,500 Flow-Through Units being issued.
The Flow-Through Units were issued at a price of $0.07 per unit, raising gross proceeds of $208,214. While the Units were issued at a price of $0.06 per unit, resulting in gross proceeds of $724,474. Through this private placement, Bold Ventures has been able to generate an impressive total of $932,688.
Insider subscriptions played a significant role in this private placement, with related persons acquiring a total of 7,893,500 Units and 335,000 Flow-Through Units. This underscores the confidence that insiders have in the company’s vision and growth prospects.
Bold Ventures intends to allocate the proceeds from this private placement towards furthering its exploration activities on its various mineral properties. The company has a strong portfolio of projects, including the Farwell Gold and Base Metals Project, the Wilcorp Gold Property, and the Traxxin Gold Property.
Notably, the Farwell Gold and Base Metals Project, located in the Matachewan area of Ontario, has shown significant potential for gold and base metal mineralization. The company’s exploration efforts in this area have yielded promising results, indicating the presence of valuable mineral deposits.
The Wilcorp Gold Property, situated in the Red Lake Mining Division of Ontario, is another key asset in Bold Ventures’ portfolio. This property has a rich mining history and is located in close proximity to several major gold mines, underscoring its strategic importance for the company’s long-term growth.
Furthermore, the Traxxin Gold Property in the Beardmore-Geraldton Gold Camp of Ontario has shown promising signs of gold mineralization during previous exploration programs. Bold Ventures is eager to further explore and develop this property to unlock its full potential.
In conclusion, the successful closing of the third tranche extension of Bold Ventures’ non-brokered private placement, coupled with significant insider subscriptions, bodes well for the company’s future growth and exploration activities. With a strong portfolio of mineral properties and a committed team, Bold Ventures is well-positioned to capitalize on the opportunities present in the mining sector.