IBK Capital helps sell two types of units in deal to fund exploration
By Devika Patel
Knoxville, Tenn., Dec. 30 - Bold Ventures Inc. said it concluded the first tranche of a private placement of units. The deal priced for C$1 million on Dec. 2, and the company raised C$390,200 in this tranche.
The company is selling 7,142,857 flow-through units of one flow-through common share and a half-share warrant at C$0.35 per unit. It also is selling 4,166,667 units of one common share and a warrant at C$0.30 per unit. In the first tranche, Bold Ventures sold 660,857 flow-through units and 529,668 units.
Each whole warrant is exercisable at C$0.40 until Dec. 31, 2012. The strike price reflects a 25% premium to the Dec. 1 closing share price of C$0.32.
IBK Capital Corp. is the agent.
Proceeds will be used for exploration work on Bold's Ring of Fire project.
The natural resource company is based in Vancouver, B.C.
| Issuer: | Bold Ventures Inc.
|
| Issue: | Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a warrant
|
| Amount: | C$3.75 million
|
| Warrant expiration: | Dec. 31, 2012
|
| Warrant strike price: | C$0.40
|
| Agent: | IBK Capital Corp.
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 30 (for C$390,200)
|
| Stock symbol: | TSX Venture: BOL
|
| Stock price: | C$0.32 at close Dec. 2
|
| Market capitalization: | C$5.12 million
|
|
|
| Flow-through units
|
| Amount: | C$2.5 million
|
| Units: | 7,142,857
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
|
|
| Units
|
| Amount: | C$1.25 million
|
| Units: | 4,166,667
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
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