Belmont Seeks Approval FOR Three (3) to One (1) Consolidation of Share Capital
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 SEEKS APPROVAL FOR THREE (3) TO ONE (1) CONSOLIDATION OF SHARE
CAPITAL
Vancouver, B.C. Canada , May 13, 2019 ; Belmont Resources Inc. (“Belmont”), (or the
“Company”), (TSX.V: BEA; FSE: L3L1; DTC Eligible – CUSIP 080499403).
Consolidation:
Belmont Resources Inc. (TSX-V: BEA) (the "Company") advises it will be immediately filing for, and
seeking approval of, documents relating to the consolidation of the Company's issued and outstanding
share capital with the TSX Venture Exchange. The intended consolidation will be on a basis of one (1)
post-consolidation common share for every three (3) pre-consolidation common shares.
The Board of Directors believes that the proposed share consolidation is necessary to facilitate new equity
investments in the Company to finance continuing business activities and to investigate new
opportunities.
This consolidation will reduce the issued and outstanding shares of the Company from 92,229,906 to
30,743,302 shares, assuming no ot her change in the issued capital. The Company's outstanding options
and warrants will also be adjusted on the same basis (1 new for 3 old) as the common shares, with
proportionate adjustments being made to exercise prices. No fractional common shares wil l be issued,
and no cash will be paid in lieu of fractional post -consolidation common shares. The number of post -
consolidation common shares to be received by a shareholder will be rounded down to the nearest whole
common share. A letter of transmittal w ill be mailed to shareholders advising that: (i) the consolidation
has taken effect; and (ii) shareholders should surrender their existing share certificates (representing pre -
consolidation common shares) for replacement share certificates (representing po st-consolidation
common shares). Until surrendered, each existing share certificate will be deemed, for all purposes, to
represent the number of common shares to which the holder thereof is entitled as a result of the
consolidation. The Company's articles of incorporation authorize the board of directors to approve certain
changes to the Company's capital structure, including the consolidation. As such, shareholder approval is
not required. The consolidation is subject to approval by the TSX Venture Exc hange. The Company
does not intend to change its name or its current trading symbol in connection with the proposed share
consolidation. The effective date of the consolidation will be disclosed in a subsequent news release.
Notwithstanding the foregoin g, the Board of D irectors may, at its discretion, determine not to effect the
consolidation.
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
-Facebook https://www.facebook.com/Nevadalithium/
-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 -Green Gold District.
Copper and gold mining in this camp dates back to the turn o the century. The property is
currently surrounded on 3 sides by claims 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 th e 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 ot her 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 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 fr om 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 n ews release.