Bolt Metals closes $430k first tranche of LIFE offering

Executive Summary

• Bolt Metals Corp. has closed the first tranche of its previously announced non-brokered listed issuer financing exemption (LIFE) offering.
• The company raised total gross proceeds of $430,000 through the issuance of 2.15 million units.
• Proceeds are designated for general working capital and corporate purposes, with specific fees paid to finders for their role in the transaction.

Key Details

• Transaction Structure: Non-brokered listed issuer financing exemption (LIFE) offering.
• Units Issued: 2.15 million units.
• Price Per Unit: $0.20 CAD.
• Gross Proceeds: $430,000.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to acquire one common share.
  • Exercise Price: $0.40 per share.
  • Expiration: 24 months from the date of issuance.
  • Exercisability: Begins 60 days following the closing date.
• Use of Proceeds: General working capital and corporate purposes.
• Finder’s Fees:
  • Cash fees of $19,800 paid to Research Capital Corp.
  • 94,500 broker warrants issued to Research Capital Corp. as additional consideration.
  • Broker warrant terms are identical to the warrants issued under the LIFE offering.

Notable Quotes

• None provided in the text.