Vancouver, British Columbia - Bolt Metals Corp. ('Bolt' or the 'Company') (TSXV: BOLT) (OTCQB: PCRCF) (FSE: A3D8AK), announces it has entered into debt settlement agreements (the 'Settlement Agreements') to settle outstanding debts owed to certain arm's length creditors totaling an aggregate of CAD $117,535.00.
Pursuant to the Settlement Agreements, the Company has agreed to issue an aggregate of 11,753,500 common shares ('Shares') at a deemed price of CAD $0.01 per Share. All Shares issued pursuant to the Settlement Agreements will be subject to a four (4) month and one (1) day hold period, pursuant to National Instrument 45-106 - Prospectus Exemptions.
The board of directors of the Company determined that it is in the best interests of the Company to complete the Debt Settlement in order to preserve the Company's cash for working capital.
About Bolt Metals Corp.
Bolt Metals Corp. is a North American mineral acquisition and exploration company focused on the development of quality precious and base metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Bolt's portfolio of strategic properties provides target-rich diversification and also include Soap Gulch, a copper SEDEX project in Montana, and Switchback, a copper-silver project located in British Columbia. Bolt trades on the CSE Exchange under the symbol BOLT, the OTCQB Exchange under the symbol PCRFC and in Germany under the WKN A3D8AK.
Contact:
Branden Haynes
Tel: (604) 817-1595
Email: info@boltmetals.com
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