Bolt Metals Closes Upsized Fully Subscriber Non-Brokered Private Placement
NEWS RELEASE
BOLT METALS CLOSES UPSIZED FULLY SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia / August 15, 2024 – Bolt Metals Corp. (“Bolt Metals” or the “Company”) (CSE: BOLT), is pleased to announce that the Company has closed and upsized its previously announced non-brokered private placement (the “Private Placement”) of units (“Units”) for gross proceeds of C$803,750 through the sale of 3,215,000 Units at a price of C$0.25 per Unit. The Private Placement has been upsized to accommodate additional investor interest.
Each Unit is comprised of one common share in the capital of the Company and one-half of one transferable common share purchase warrant (each a “Warrant”). Each whole Warrant entitles the holder to acquire one common share at C$0.50 for two (2) years from the date of issue.
In connection with the Private Placement, the Company paid finder’s fees to certain qualified non-related parties totaling C$42,962.50 and 171,850 broker warrants (each a “Broker Warrant”). The Broker Warrants are issued and exercisable under the same terms as the Warrants.
The Company intends to use the net proceeds from the offering for exploration expenditures, working capital and general corporate purposes. All securities issued under the offering, including securities issuable on exercise thereof, will be subject to a hold period expiring four (4) months and one (1) day after issue, in accordance with the rules and policies of the exchange and applicable Canadian securities laws.
About Bolt Metals Corp.
Bolt Metals is a Canadian-based exploration company focused on the acquisition and development of production-grade battery metals projects within the Asia-Pacific region, employing a vertically integrated minerals-to-market strategy to leverage these assets to their fullest.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer Ranjeet Sundher Head Office Suite 300, Bellevue Centre 235 – 15th Street, West Vancouver, BC V7T 2X1 Telephone +1 (604) 922-8272 Email [email protected]
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Forward-Looking Information
Certain information in this news release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Corporation or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this news release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this news release. Forward-looking statements in this news release may include, but are not limited to, the future plans of the Company, the Private Placement, business plans, objectives and strategy.