Dundee Resources invests C$1 million; IBK, Dundee Capital are agents
By Devika Patel
Knoxville, Tenn., April 12 - Bold Ventures Inc. announced it plans a C$2 million private placement of units via agents IBK Capital Corp. and Dundee Capital Markets.
The company will sell 8,888,888 units at C$0.225 apiece on a best-efforts basis. The units consist of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.39 for two years. The strike price reflects a 59.18% premium to the April 11 closing share price of C$0.245.
Dundee Resources Ltd. will buy 4,444,444 units for C$1 million.
Settlement is expected April 29.
Proceeds will be used for general working capital and to fund exploration of the company's properties outside of the Ring of Fire project.
The company also announced an earn-in joint venture agreement with Dundee on all of Bold's claims in the Ring of Fire. Dundee will earn a 33% interest in Bold's Ring of Fire activities by financing C$2.5 million of exploration work.
The natural resource company is based in Toronto.
| Issuer: | Bold Ventures Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2 million
|
| Units: | 8,888,888
|
| Price: | C$0.225
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.39
|
| Agents: | IBK Capital Corp. and Dundee Capital Markets
|
| Investor: | Dundee Resources Ltd. (for C$1 million)
|
| Pricing date: | April 12
|
| Settlement date: | April 29
|
| Stock symbol: | TSX Venture: BOL
|
| Stock price: | C$0.245 at close April 11
|
| Market capitalization: | C$6.41 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
