Bold Capital Enterprises Ltd. announces the resumption of operations and a new private placement with the aim of recapitalizing the company

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MONTREAL, 28 October 2021 / CNW / – Bold Capital Enterprises Ltd. (TSXV: BOLD.P) (“FAT“or the”company“), a capital pool company, announces that shares of BOLD are expected to resume trading on the TSX Venture Exchange (the”To exchange“) to Monday November 1, 2021. The Company also announces that it intends to organize a private placement of ordinary shares without intermediary for a minimum proceeds of $ 100,000 and a maximum product of up to $ 1,000,000 (the “OfferThe issue price per share will be determined after trading resumes and is expected to be based on the 10-day volume weighted average price of the ordinary shares on the Exchange, subject to a minimum issue price. of $ 0.05. The final issue price and the size of the Offer will be confirmed in a subsequent press release.

The proceeds of the private placement will be used to recapitalize the Company and provide much needed working capital. The Company confirms that it has not entered into any agreement in principle with a potential target, but will continue to seek potential opportunities and assess other businesses and assets with a view to completing a qualifying transaction and creating value for shareholders.

The Company is pleased to confirm that it has already received subscriptions for the $ 100,000 minimum amount of the Offer, which has been placed in trust pending determination of the final issue price. Sir. Edouard Ierfino, who joined the Board of Directors last May, has committed and subscribed to $ 30,000 of the Offering and has agreed to place the Common Shares, when issued at closing, in escrow in accordance with Exchange policies in order to meet its ownership obligations under Exchange Policy 2.4. The Company appreciates Ed’s commitment and the experience he can bring to the immediate work ahead in researching and evaluating potential opportunities to complete a qualifying transaction. In addition, Mr. Pierre Rona, President and CEO of BOLD, is committed to and subscribes to $ 20,000 of the Offering and has agreed to place the Common Shares, when issued at closing, in escrow in accordance with the policies of the Exchange. Mr. Rona currently owns 400,000 BOLD common shares.

The subscriptions of MM. Ierfino and Rona will constitute related party transactions as defined in Multilateral Instrument 61-101 Protection of holders of minority securities in special transactions (“MI 61-101Subscriptions to the Offer will be exempt from the formal assessment and minority shareholder approval requirements of NI 61-101 as the fair market value of the common shares offered for sale to Messrs. Ierfino and Rona is not exceed 25% of the Company’s market capitalization, assuming a minimum issue price per share of $ 0.05.

Pierre Rona, President and CEO of BOLD, said: “Our entire management team and board remain committed to finding the best qualifying transaction for our business as soon as possible after our previous failed attempt in 2020. L The team believes that the first step in this process is to recapitalize the business in order to be able to meet our goals. “

The placement is subject to the approval of the Exchange. All Common Shares issued in connection with the Offering will be subject to these resale restrictions in accordance with applicable securities laws and exchange policies.

About Bold Capital Enterprises Ltd.

The Company is incorporated under Canada Business Corporations Act and is common capital in accordance with Exchange Policy 2.4. The company’s common shares are listed on the stock exchange. To date, BOLD has not carried out any material transaction of any kind, other than the identification and valuation of businesses and assets with a view to carrying out a qualifying transaction. Further information on the Company can also be found in BOLD’s continuous disclosure documents filed under the Company’s SEDAR profile at www.sedar.com.

Caution regarding forward-looking information

This press release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as of the date of this press release. Any statement that deals with predictions, expectations, beliefs, plans, projections, goals, assumptions, future events, or performance (often but not always using expressions such as “expects “Or” does not expect “,” is expected “,” anticipates “or” does not anticipate “,” plans “,” budget “,” planned “,” plans “,” estimates “,” believes “or “intends” or variations of these words and expressions or declaring that certain actions, events or results “could” or “could”, “would”, “could” or “? By disclosing forward-looking information contained in this press release press release, the Company has made certain assumptions, including the resumption of trading of BOLD shares on the TSX Venture Exchange and the ability of BOLD to successfully close the price and close the offering. expectations reflected in this forward-looking information are reasonable, it cannot guarantee that the expectations All forward-looking information will prove to be correct. Known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. These factors include, but are not limited to: the availability of financing; delay or failure to receive board, shareholder or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Therefore, readers should not place undue reliance on the forward-looking information contained in this press release. Unless required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting this information-seeking or other.

Neither the Bourse nor its regulatory services provider (as that term is defined in the policies of the Bourse) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Bold Capital Enterprises Ltd.

For further information: Peter Rona, President and CEO, (514)794-1656

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