PCRCF - Bolt Metals Announces Amendment to Term of Warrants

VANCOUVER, British Columbia, Jan. 29, 2021 (GLOBE NEWSWIRE) -- Bolt Metals Corp. (“ Bolt ” or the “ Company ”) (CSE: BOLT) (FRANKFURT: A2QEUB) (OTCQB: PCRCF) announces that it has made application to the Canadian Securities Exchange (the " Exchange "), to extend the term of common share purchase warrants (the " Warrants ") that were issued under the Company's private placement of units completed on February 6, 2020, that were set to expire on February 6, 2021. The Warrants had an exercise price of $0.16 per common share and there were 6,184,704 issued and outstanding prior to the 6.5 to 1 share consolidation the Company completed on September 24, 2020 (the “ Consolidation ”). Following completion of the Consolidation, 951,493 Warrants remain issued and outstanding with an exercise price of $1.04 per Warrant. Insiders of Bolt hold 0.81% of the Warrants. The Company has extended the term of the Warrants from 12 months to 36 months in accordance with Exchange policies, resulting in a new expiry date of February 6, 2023.

About Bolt Metals

Bolt Metals is a Canadian?based exploration company focused on the acquisition and development of production grade nickel and cobalt deposits, key raw material inputs for the growing lithium?ion battery industry. Visit https://boltmetals.com/ to find out more.

Bolt Metals Corp.

Ranjeet Sundher – President and CEO
(604) 922-8272
rsundher@boltmetals.com

Steve Vanry – CFO & Director
(604) 922-8272
steve@vanrycap.com

Sean Bromley – Director & Investor Contact
(778) 985-8934
sean@theparmargroup.com

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.