Belmont Closes First Tranche of Private Placement
BELMONT RESOURCES INC.
#600 – 625 Howe Street, Vancouver, B.C. V6C 2T6 Ph: (604) 683-6648 Fax: (604) 683-1350 E-Mail: [email protected]
“NEWS RELEASE”
BELMONT CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Vancouver, B.C. Canada, November 26, 2015 – Belmont Resources Inc. (“Belmont”, the “Company” or “TSX.V: BEA”). Further to our news releases of October 13, 2015 the Company has closed the first tranche of the private placement in the amount of $16,800.
The Company will be issuing 560,000 units @ $0.03. Each unit comprises one common share and one whole warrant. Each whole warrant will permit the holder to acquire one additional share at a price of $0.06 in the first year and at $0.10 in the second year after closing.
The Use of Proceeds will be $10,800 against trade payables and $6,000 against accrued management and administrative fees.
Two insider’s participated in the first tranche – Vojtech Agyagos -100,000 units ($3,000) and Gary Musil – 100,000 units ($3,000).
The Company will pay a finder’s fee of $480.00. The Common Shares and Warrants will be subject to a statutory hold period expiring four months and one day from closing.
About Belmont Resources Inc.
Belmont is an emerging resource company engaged in the acquisition, exploration and development of mineral properties in Canada.
In June 2012, the Company entered into a property option agreement to acquire four groups of mineral (51) claims, representing 2,254.27 hectares in the Berthiaume, Orvilliers and Joutel Townships, all located within the Abitibi Harricana-Turgeon volcanic greenstone of Northwestern, Quebec. This belt hosts several world- class deposits that have produced both gold and base metals.
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake – 11,109 ha) in the Uranium City District in Northern Saskatchewan.
Further information can be found on the Company’s website at www.BelmontResources.com and on www.Sedar.com, or by phoning 604-683-6648.
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 the 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 and we may not be able to organize and carry out an exploration program in 2015; 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.