Vancouver, B.C. - February 13, 2019- Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible – CUSIP 080499403); (“Belmont”, or the “Company").
Private Placement Financing:
Further to the Company’s press release dated January 25, 2019; the Company advises that it has applied to the TSX Venture Exchange to close the 1st Tranche of 1,500,000 units (the “Units”) at a price of $0.045 per Unit for gross proceeds of $67,500. Each unit consists of one common share of the Company and one transferable share purchase warrant (a “Warrant”). Each whole warrant will permit the holder to acquire one additional common share of the Company at a price of $0.05 for one year from closing. Three (3) placees participated, including one (1) insider for 100,000 units. The issuance of the Common Shares and Warrants are subject to TSX Venture Exchange approval; and will be have a hold period expiring June 15, 2019. No finder’s fees will be paid. The Company intends to use the proceeds from the private placement for additional Kibby Basin expenditures, regulatory fees $1,800 and working capital prorated from details in the January 25, 2019 news. 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
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 the location of the only US Lithium producer. MGX Minerals Inc. (CSE: XMG) has currently earned a 25% interest in the Kibby project and has the right to increase this to 50% by expending an additional $300,000 on exploration and become the operator. In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its significant uranium properties (Crackingstone -982 ha) in the Uranium City District in Northern Saskatchewan, Canada
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