Belmont Arranges $240,000 Private Placement Financing
BELMONT RESOURCES INC.
#600 – 625 Howe Street, Vancouver, B.C. V6C 2T6
Ph: (604) 683-6648 Fax: (604) 683-1350 E-Mail: [email protected]
BELMONT ARRANGES $240,000 PRIVATE PLACEMENT FINANCING
Vancouver, B.C. Canada , June 17, 2019; Belmont Resources Inc. (“Belmont”), (or the
“Company”), (TSX.V: BEA; FSE: L3L1; DTC Eligible – CUSIP 080499502 -new).
Private Placement Financing:
Belmont Resources Inc. (TSX -V: BEA) intends to complete a non -brokered private placement (the
“Financing) up to 4,000,000 Units at a price of $0.06 per Unit to raise gross proceeds of up to $240,000.
Each Unit will consist of one common share of the Company and one two year transferable share
purchase warrant (the “Warrant”) permitting the holder to acquire one additional share of the Company at
$0.08.
In addition to relying upon other available prospectus exemptions to effect the Financing, a portion of the
private placement may be completed in accordance with the exemption set out in BC Instrument 45 -536
(Exemption from prospectus requirement for certain distributions through an investment dealer), (the
“Investment Dealer Exemption”). The Company also confirms there is no material fact or material
change related to the Company which has not been general disclosed.
The Company may pay commissions of 8% to eligible parties in connection with this financing, payable
either in cash and/or in warrants. The Common Shares and Warrants are subject to a statutory hold period
and the Financing is subject to TSX Venture Exchange (“TSXV”) approval.
The Company intends to use the proceeds from the Financing for exploration on current acquisitions as
well as previously held properties, and working capital.
About Belmont Resources Inc.
Belmont is an emerging resource company engaged in the acquisition, exploration and
development of mineral properties in Canada and Nevada, U.S.A.
For further information see our Website at: www.BelmontResources.com
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-Twitter https://twitter.com/Belmont_Res
(i) On March 28, 2019 Belmont entered into an agreement to acquire 100% interest in 253.34
hectares of mineral claims (now increased to 295.56 ha) which are part of the former
Pathfinder Property, located in the historically productive Republic -Greenwood Gold
District. Copper and gold mining in this camp dates back to the turn o f the century. The
property is currently surrounded on 3 sides by clai ms held by KG Exploration (Canada) Inc.
(a wholly owned subsidiary of Kinross Gold Corporation).
(ii) Belmont owns the Kibby Basin Lithium project covering 2,056 hectares (5,080 acres) in
Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km north of
Clayton Valley, Nevada the location of the only US Lithium producer. MGX Minerals Inc.
(CSE: XMG) has earned a 25% interest in the Kibby project.
(iii) In 50/50 ownership with International Montoro Resources Inc., Belmont owns and is
exploring joint venture opportunities for its significant uranium properties (Crackingstone -
982 ha) in the Uranium City District in Northern Saskatchewan, Canada
ON BEHALF OF THE BOARD OF DIRECTORS
“Gary Musil”
Gary Musil
CFO/Director
This Press Release may contain forward -looking statements that may involve a number of risks and uncertainties, based on
assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of
exploration and other risk factors beyond its control. Forward looking statements in this news release include statements about
the possible raising of capital and exploration of our properties. Actual events or results could differ materially from th e
Companies forward-looking statements and expectations. These risks and uncertainties include, among other things, that we
may not be able to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing
may not be fulfilled an d we may not be able to organize and carry out an exploration program in 201 9, and other risks
associated with being a mineral exploration and development company. These forward-looking statements are made as of the
date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-
looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.