Belo Sun Announces Block Purchase Under Normal Course Issuer Bid
BELO SUN ANNOUNCES BLOCK PURCHASE UNDER NORMAL COURSE
ISSUER BID
Toronto, Ontario
June 20, 2018
Belo Sun Mining Corp. (“Belo Sun” or the “Company”) (TSX: BSX) announces it has completed
the purchase and cancellation of 22,958,000 of its common sha res at a price of $0.22 under its
Normal Course Issuer Bid (“NCIB”) using the block purchase exception.
The maximum number of common shares that may be purchased for cancellation pursuant to
the NCIB is that number of common shares that represents 5% of t he issued and outstanding
common shares of Belo Sun. Based on the 465,589,915 common shares issued and outstanding
as at the commencement of the NCIB , the maximum number of shares to be purchased and
cancelled would be 23,279,495. Belo Sun may purchase an additional 321,495 common shares
under the NCIB.
The Board of Directors of Belo Sun believes that the underlying value of the Company is not
reflected in the current market price of its common shares, and has thus concluded that the
repurchase and canc ellation of common shares pursuant to the NCIB presently constitutes an
appropriate use of financial resources and would be in the best interest of Belo Sun
shareholders.
About the Company
Belo Sun Mining Corp. is a Canadian -based mineral exploration and development company with
a portfolio of gold-focused properties in Brazil. Belo Sun’s primary focus is advancing and
expanding its 100% owned Volta Grande Gold Project, located in Para State. Belo Sun trades on
the TSX under the symbol “BSX”. For more information about Belo Sun please visit
www.belosun.com.
For further information, please contact:
Peter Tagliamonte, President and CEO
Belo Sun Mining Corp.
(416) 309-2137
Caution regarding forward-looking information:
This press release contains "forward -looking information" within the meaning of applicable
Canadian securities legislation. Forward -looking information includes, without limitation,
statements reg arding purchases made under the normal course issuer bi d. Generally, forward
looking information can be identified by the use of forward -looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not ant icipate", or "believes", or variations of such words and
phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved". The Company has based its production forecasts on the results
of the feasibility study (please see the related technical report available on www.sedar.com or the
Company’s website for details on the underlying assumptions and parameters. Forward -looking
information is subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward -looking information,
including, but not limited to: general business, economic, competitive, geopolitical and social
uncertainties; the actual results of current exploration activities; other risks of the mining industry
and the risks described in the annual information form of the Company. Although the Company
has attempted to identify important factors that could cause actual results to differ materially from
those contained in forward -looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward
looking information. The Company does not undertake to update any forward -looking
information, except in accordance with applicable securities laws.