Bolt Metals Announces Private Placement

Executive Summary

• Bolt Metals Corp. announced a non‑brokered private placement of up to 12,903,225 special warrants at $0.31 each, targeting gross proceeds of up to $4 million.
• Each special warrant will automatically convert into one unit (one common share plus one share purchase warrant) either three business days after filing a prospectus supplement or four months and one day after closing, whichever occurs first.
• Net proceeds are earmarked for ongoing exploration activities, general working capital, and administrative costs.

Key Details

• Offering Size: Up to 12,903,225 special warrants.
• Price per Special Warrant: $0.31.
• Maximum Gross Proceeds: $4,000,000.
• Conversion Mechanics:
• Each special warrant converts into one unit (1 common share + 1 share purchase warrant).
• Conversion occurs on the earlier of:
  1. Three business days after filing a prospectus supplement to a short‑form base shelf prospectus; or
  2. Four months and one day after the closing date of the offering.
• Unit Composition:
• 1 common share of Bolt Metals Corp.
• 1 share purchase warrant exercisable for an additional share at $0.41 per share, valid for two years from closing.
• Blocker Provision: Warrants carry a 10 % blocker; exercise is restricted if the holder would own ≥10 % of outstanding shares.
• Use of Proceeds: Primarily for exploration activities and general working capital; also to cover operational and administrative expenses.
• Regulatory Conditions: Offering subject to approvals, including from the Canadian Securities Exchange (CSE).
• Exemptions Utilized: Issuance relies on prospectus exemptions under NI 45‑106 (accredited investors, $150,000 minimum investment, etc.).
• Holding Period: Securities issued are subject to a four‑month hold period from closing before conversion.
• Finder’s Fees: Company may pay finder’s fees within CSE‑permitted limits.

Notable Quotes

• “We are pleased to announce this financing which will provide the capital needed to advance our exploration programs and support ongoing corporate operations,” said Zachary Kotowych, CEO and Director of Bolt Metals Corp.