Belmont Arranges $210,000 In Flow-Through Private Placement
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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
Amended News Release
Belmont Arranges $210,000 In Flow-Through Private Placement
This amended and restated news release reproduces the news release of originally filed on July 21, 2021.
Correction are made to the original news release such as:
The Offering will consist of 3.0 million Flow-Through Units (not 2.0 million)
renunciation to investors of FT Shares in the financing effective December 31, 2021 (not December
31, 2020)
initial closing date of the Offering expected to occur on or around July 31, 2021 (Not April 15, 2021)
July 12, 2021 -Vancouver, B.C. Canada,; Belmont Resources Ltd. (“Belmont”), (or the “Company”),
(TSX.V: BEA; FSE: L3L2 ) announces a non-brokered private placement for up to $210,000 i n g r o s s
proceeds (the “Offering’). The Offering will consist of 3.0 mil lion Flow-Through Units (FT Units”) of the
Company at a price of $0.07 per FT Share.
FT Units:
Each FT Unit consists of one flow-through common share of the C ompany (a “Common Share”) and one
non flow-through share purchase warrant (“NFT Warrant”). Each W arrant entitles the holder to purchase
one Common Share at a price of $0.12 for a period of two years from the issuance of shares.
The FT Shares will qualify as “flow-through shares” (within the meaning of the Income Tax Act (Canada)).
The gross proceeds from the sale of the FT Shares will be used to incur qualifying Canadian Exploration
Expenses. Qualifying expenses are to be incurred by no later t han December 31, 2021 for renunciation to
investors of FT Shares in the financing effective December 31, 2021. The use of proceeds of the financing
will be used for to conduct an 3D-IP Survey on the Come By Chance (“CBC”) copper-gold porphyry project
and other exploration as deemed necessary on its properties loc ated in the Greenwood Mining District of
southern British Columbia.
The IP geophysical survey will advance the CBC project to the d rill ready stage by mapping the
chargeability/resistivity signature of both the skarn copper mineralization and the adjacent potential deeper
copper-gold porphyry system which is believed to be the likely fluid source for the Cu-Au skarn
mineralization. Further details of this project can be reviewe d on our previous news release dated July 6,
2021 as filed on SEDAR and other news releases posted on our website.
The Offering is subject to customary closing conditions includi ng, but not limited to, receipt of applicable
regulatory approvals, including approval of the TSX-V. The closing of the Offering may occur in one or more
tranches, with the initial closing date of the Offering expected to occur on or around July 31, 2021 and is not
subject to receipt of a minimum amount of gross proceeds. The C ompany may pay to certain introducing
parties in respect of the Offering finder’s fees of up to 8% ca sh and non-transferable 8% warrants, subject
to compliance with applicable securities legislation and TSX-V policies.
Insider’s may be participating in this private placement, const ituting a related party transaction pursuant to
TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61- 101 - Protection of Minority Security
Holders in Special Transactions {"Ml 61-101"). The Company reli ed on Section 5.S{a) of Ml 61-101 for an
exemption from the formal valuation requirement and Section 5.7 {l){a) of Ml 61-101 for an exemption from
the minority shareholder approval requirement of Ml 61-101 as t he fair market value of the transaction did
not exceed 25% of the Company's market capitalization.
NEWS RELEASE
July 12, 2021
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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
About Belmont Resources
Belmont Resources is engaged in the business of acquiring and d eveloping gold-copper-lithium projects
located in North America. By utilizing new exploration technology and geological modelling the company is
identifying new sources of gold-copper-lithium mineralization.
The Company’s project portfolio includes:
- Athelstan & Jackpot Gold mines, B.C. (Athelstan-Jackpot property - 100%)
- Kibby Basin Lithium Project, Nevada – (100%)
- Betts Copper-Gold mine, B.C. (Come By Chance property - 100%)
- Bertha & Pathfinder Gold-Silver mines, B.C. (Pathfinder property - 100%).
- Lone Star Copper mine, Washington State (Lone Star Property - LOI)
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 Ventu re
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 o r r e s u l t s t h a t m a y p r o v e t o b e i n a c c u r a t e a s a r e s u l t o f
exploration and other risk factors beyond its control. Actual events or results could differ materially from the Companies f orward-
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 2020, 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.
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