01:40:34 EDT Tue 01 Jul 2025
Enter Symbol
or Name
USA
CA



Belmont Resources Inc (4)
Symbol BEA
Shares Issued 102,183,272
Close 2025-04-07 C$ 0.03
Market Cap C$ 3,065,498
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Belmont to apply to close $180,000 first tranche

2025-04-07 17:39 ET - News Release

Mr. George Sookochoff reports

BELMONT RESOURCES UPDATES PRIVATE PLACEMENT FINANCING

Further to Belmont Resources Inc.'s press release dated April 3, 2025, wherein it was announced the intention to undertake a private placement to raise $1,363,500 through the issuance of 30.3 million common shares at 4.5 cents, the company will now apply to the TSX Venture Exchange for conditional approval to the financing and request approval to close a first tranche as to $180,000 and issue four million common shares. The common shares to be issued will be subject to a hold period expiring four months and one day from issuance.

The second tranche of the private placement will close after the company receives shareholder approval at the annual and special meeting to take place at 11 a.m. Pacific Time on May 30, 2025. The record date for the meeting has been set for April 25, 2025. Refer to the company's press release dated April 3, 2025, for more information.

The company intends to use the net proceeds from the private placement as to $1.1-million exploration/drilling; $75,000 management fees; $15,000 accounting; $20,000 legal; $2,500 wire services; $151,000 unallocated working capital. While the company intends to spend the proceeds from the financing as stated above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the board.

About Belmont Resources Inc.

Belmont has assembled a portfolio of highly prospective copper, gold, lithium, uranium and rare-earths projects located in British Columbia, Saskatchewan, Washington and Nevada states.

We seek Safe Harbor.

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