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Bolt Metals (OTC:PCRCF) announced an upsized non-brokered private placement, increasing the Offering from up to 12,903,225 special warrants at $0.31 (gross proceeds up to $4,000,000) to up to 19,354,838 special warrants at $0.31 (gross proceeds up to $6,000,000).
Each Special Warrant will convert into one Unit (one common share plus one Warrant) on the earlier of three business days after filing a prospectus supplement or four months and one day after closing. Each Warrant is exercisable into one share at $0.41 for two years and contains a 10% blocker on exercise. Proceeds will be used for exploration, operations and general working capital. The Offering is subject to customary conditions and CSE approval and is being issued under prospectus exemptions with a four-month hold period prior to conversion.
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