Belmont Resources Announces Equity Investment From Singapore and Liechtenstein Private Investment Holding Companies
Belmont Resources Announces Equity Investment From
Singapore and Liechtenstein Private Investment Holding Companies
July 18, 2023 -Vancouver, B.C., Canada; Belmont Resources Ltd. (“Belmont” or the “Company”)
(TSX.V: BEA; FSE: L3L2) is pleased to announce that it has entered into subscription agreements for a
private placement financing (the “Private Placement”) with private investment holding companies advised
by bgm Partners of Vienna, Austria.
Under the terms of the private placement, Belmont Resources will issue 7,000,000 common shares
(“Common Shares”) in the capital of the Company to each of two private investment holding companies,
Commodities and Resources Pte.Ltd of Singapore and ERAG Energie & Rohstoff AG PCC of
Liechtenstein at a price of C$0.03 per Common Share for gross proceeds of C$420,000. There are no
share purchase warrants attached to the offering nor are there any finder’s fees payable.
ERAG Energie & Rohstoff AG PCC and Commodities and Resources Pte.Ltd are privately owned
investment holdings which invest in companies that are active in the commodities sector (incl. commodity
trading), mining and energy. Both companies are arms length and there will be no new insiders or control
positions pursuant to the closing.
The Company welcomes Commodities and Resources Pte.Ltd and ERAG Energie & Rohstoff AG PCC as
strategic investors with a long-term focus and support for the development of the Company’s Projects.
The Company has also received an additional Subscription Agreement totaling $24,000 (800,000 shares)
from a third arms length place.
Closing of the Private Placement is anticipated to occur on or around July 24, 2023, and is subject to
certain customary conditions including, but not limited to, the receipt of all necessary regulatory approvals
including the approval of the TSX.V Exchange. The Common Shares issued pursuant to the Private
Placement will be subject to a hold period of four (4) months and one (1) day from the date of issuance in
accordance with applicable securities laws.
The Use of Proceeds will be allocated as: $210,000 exploration expenditures; $50,000 property
payments; $100,000 office and administration (salaries, management, audit & legal); $24,000 European
marketing services; unallocated working capital $60,000. While the Company intends to spend the net
proceeds from the offering as stated above, there may be circumstances where, for sound business
reasons, funds may be reallocated at the discretion of the Board.
About Belmont Resources
Belmont Resources has assembled a portfolio of highly prospective copper-gold-lithium, uranium and rare
earths projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings
include:
NEWS RELEASE
July 18, 2023
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Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
Athelstan-Jackpot (A-J): 2 former gold mines. 2,000m drilling to target new lode-gold deposit
target in North Zone. Targeting multi-coincident geophysical anomaly on strike with neighboring
gold trend and gold mines. Drilling to start 2nd week of August.
Crackingstone Uranium-Rare Earths: Some of the highest grade Rare Earth Elements (REE’s)
are being discovered in Northern Saskatchewan due to the presence of Uranium, Thorium &
Pegmatite. Crackingstone project meets the criteria for potentially discovering a large REE’s
deposit with its high grade uranium along with thorium and pegmatite. A review of 3,000m of 2008
drill data shows a 1.3km pegmatite dyke drilled but only assayed for uranium at that time. 2023
plans are to re-assay pegmatite sections for REE’s ;
Athlestan Jackpot Gold Project, Southern British Columbia
Crackingstone Uranium‐REE Project, Northern Saskatchewan
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Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
Come By Chance (CBC): 2021 geophysics delineated potential large copper-gold porphyry;
2022 drilling provided further vectors towards potential core of porphyry;
The Lone Star Copper-Gold: optioned to Australian Marquee Resources ASX:MQR; MQR has
spent $2.5M in drilling, completed new resource in Dec. 2022 and is currently producing a
Preliminary Economic Assessment in order to earn 80% interest.
Lone Star Copper‐Gold Project, Washington State. 2022 Resource.
Come By Chance Copper‐Gold Project, Southern British Columbia
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Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
The Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton Valley
Basin: Optioned 80% of the central Kibby Playa claim block to Australian Marquee Resources
MQR. MQR has spent $3.0M in drilling in 2022 for potential deep seated lithium brine. 2022
Drilling confirmed high levels of lithium-bearing sediments along with dissolved lithium in the
groundwater. Mineralized intervals containing up to 924 ppm lithium with greater than 300 ppm
lithium over thicknesses in excess of 450m have been identified in core samples of clay-rich
playa sediments.
Kibby Lithium Property, Nevada State
Belmont Projects
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Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
ON BEHALF OF THE BOARD OF DIRECTORS
“George Sookochoff”
George Sookochoff, CEO/President
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.
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. 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 2023, 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.