Bold Ventures Inc, a Canadian mineral exploration company, has announced the closing of the third tranche of its non-brokered private placement. This follows the extension of the original non-brokered private placement, with an announcement on insider subscriptions.
For those unfamiliar with mineral exploration, Bold Ventures works in the potentially lucrative fields of mining and exploration, with a particular focus on nickel, copper, zinc, and gold. As part of its ongoing operations, the company regularly turns to investors to fund the highly capital-intensive activities that are characteristic to the sector.
In this instance, Bold Ventures announced the closing of the third tranche of its non-brokered private placement, in a release that was made on December 17, 2020. Having received conditional approval from the TSX Venture Exchange, the company issued 1,000,000 working capital units (WCUs) and each working capital unit was made available at a price of $0.06. Investors purchasing a unit received one common share of Bold Ventures coupled with a Common Share purchase warrant.
Additionally, the company also announced the extension of the completion of the private placement, which essentially allows more time for interested investors to secure a piece of the action. This strategic move was necessary as the company seeks to increase its operational activities and make significant strides in their projects.
Interestingly, the company’s decision to extend investment opportunities corresponds with the views of some industry observers, who highlighted the steady performance of base metals such as copper, nickel, and zinc amidst relatively volatile markets. As such, extending the private placements only seeks to further bolster the company’s financial standing amidst a promising industrial scenario.
Bold Ventures’ continued move to attract capital has also been displayed in its significant announcement on insider subscriptions. Proposed insider participation in the private placement came from multiple sources, including the CEO, CFO and Directors of the company.
The insider subscriptions announcement not only enhances the trust in the company’s operations but also demonstrates the strong belief that these insider stakeholders have in their ongoing projects’ potential. This sort of affirmation has impacts on other prospective investors who have been contemplating investing in Bold Ventures.
Overall, Bold Ventures’ recent moves relating to the closing of third tranche, extension of its non-brokered private placement, and insider subscriptions demonstrate the company’s proactive strategy in raising funds. These funds are evidently for the continuous exploration of the rich, diversified mineral deposits in the chosen areas, solidly placing the company in potentially advantageous positions for future growth and development.
However, like any investment announcement, potential investors should always undertake due diligence, understanding that investments in the mining sector, like any other, come with their own risk profile that should be scrutinized thoroughly before any commitment to invest is made.
