Bolt Metals Announces Closing of Fully Subscribed Private Placement

Executive Summary

• Bolt Metals Corp. closed a non‑brokered private placement raising $6,000,000 in gross proceeds.
• The offering issued 19,354,838 special warrants at $0.31 per warrant, each convertible into one unit (one common share + one purchase warrant).
• Proceeds are earmarked for ongoing exploration activities and general working capital.

Key Details

• Offering Size: $6,000,000 aggregate gross proceeds.
• Special Warrants: 19,354,838 warrants issued at $0.31 each.
• Conversion Mechanics: Each special warrant automatically converts into one unit (1 common share + 1 purchase warrant) on the earlier of:
• Three business days after filing a prospectus supplement to a short‑form base shelf prospectus, or
• Four months and one day after the closing date.
• Units Composition: Each unit = 1 common share + 1 common share purchase warrant (exercisable at $0.41 per share until 23 Feb 2028).
• Use of Proceeds: Funding for ongoing exploration programs and general working capital needs.
• Hold Period: Securities issued are subject to a four‑month hold period from the closing date, pending prospectus supplement filing or automatic conversion.
• Finder’s Fees Paid: $167,222.75 in cash finder’s fees.
• Broker Warrants Issued: 539,428 broker warrants at an exercise price of $0.41 per share, exercisable until 23 Feb 2027; also subject to a four‑month and one‑day hold period.
• Regulatory Exemptions: Both special and broker warrants were issued under exemptions from prospectus requirements under Canadian securities laws.

Notable Quotes

(No direct quotes included in the release.)