BELMONT ARRANGES $240,000 PRIVATE PLACEMENT FINANCING
Vancouver, B.C. Canada, June 17, 2019; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L1; DTC Eligible – CUSIP 080499502 -new). Private Placement Financing:
Belmont Resources Inc. (TSX-V: BEA) intends to complete a non-brokered private placement (the “Financing) up to 4,000,000 Units at a price of $0.06 per Unit to raise gross proceeds of up to $240,000. Each Unit will consist of one common share of the Company and one two year transferable share purchase warrant (the “Warrant”) permitting the holder to acquire one additional share of the Company at $0.08. In addition to relying upon other available prospectus exemptions to effect the Financing, a portion of the private placement may be completed in accordance with the exemption set out in BC Instrument 45-536 (Exemption from prospectus requirement for certain distributions through an investment dealer), (the “Investment Dealer Exemption”). The Company also confirms there is no material fact or material change related to the Company which has not been general disclosed. The Company may pay commissions of 8% to eligible parties in connection with this financing, payable either in cash and/or in warrants. The Common Shares and Warrants are subject to a statutory hold period and the Financing is subject to TSX Venture Exchange (“TSXV”) approval. The Company intends to use the proceeds from the Financing for exploration on current acquisitions as well as previously held properties, and working capital.
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-Greenwood Gold District. Copper and gold mining in this camp dates back to the turn of 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 the 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
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