Corporate update
BELLA RESOURCES INC.
For immediate release
January 2, 2013 BP.H - NEX
Corporate update
Bella Resources Inc. (the "Corporation" or “Bella”), reports that due to poor market conditions the Corporation will not proceed with the private placement announced on August 20, 2012.
Bella now intends, subject to regulatory approval, to seek subscriptions for up to 4,000,000 units at $0.015 per unit for gross proceeds of $60,000. Each unit shall be comprised of one common share and one transferable common share purchase warrant. The transferable common share purchase warrant shall be exercisable at $0.05 for a period of 12 months. A maximum of $20,000 of the proceeds from the placement will be utilized fo fund immediate expenses and existing operations in accordance with the TSX temporary relief policy announced on August 17, 2012 and revised on December 12, 2012. The remaining $40,000 may be utilized for general working capital, including payments to related parties. Finder’s fees of up to 10% may be payable in accordance with TSX Venture Exchange policies. Bella is using the TSX Venture Exchange temporary relief measures regarding the pricing requirements.
The Corporation would also like to announce that it has called its Annual and Special Meeting for March 4, 2013 to seek shareholder approval for a share consolidation of up to four old shares for each one new share. Based on the 4 for 1 consolidation the Corporation also intends, subject to regulatory approval, to complete a private placement of up to 5,000,000 units at $0.05 per post-consolidation share. Each unit shall be comprised of one post-consolidation share and one transferable common share purchase warrant. The transferable common share purchase warrant shall be exercisable at $0.10 for a period of 12 months. The gross proceeds of up to $250,000 shall be used to retire outstanding indebtedness and for general working capital. Finder’s fees of up to 10% may be payable in accordance with TSX Venture Exchange policies.
The Corporation is actively seeking a business or property to acquire.
Signed "Ken Ralfs"
Ken Ralfs.
President
For further information please contact:
Randy Clifford, Controller (780) 466 – 6006
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.