Mr. Mehdi Azodi reports

BELGRAVIA HARTFORD PROVIDES LEGAL UPDATE

Belgravia Hartford Capital Inc. is providing an update on the litigation versus PolyNatura Corp. in United States District Court for the District of New Mexico case No. 2:21-cv-00918. Belgravia is seeking to recover $12.2-million (U.S.)plus additional damages arising from breaches of the royalty agreement it signed in 2017 with Cartesian Capital LLP.

Court rulings

On Jan. 11, 2024, Magistrate Judge Jerry H. Ritter entered a memorandum opinion and order denying PolyNatura's request to stay discovery. This is an important step for Belgravia as it overruled PolyNatura's request to halt depositions. Belgravia argues that such depositions were necessary to understand why no revenues have been generated thus far by PolyaNatura and the circumstances surrounding the 2017 settlement between IC Potash Corp. and Cartesian Capital.

On Sept. 28, 2023, PolyNatura filed a notice of non-appearance indicating that certain defence witnesses noticed for depositions would not be appearing for their depositions. On Oct. 6, 2023, PolyNatura filed a motion for summary judgment, and argued in its reply brief that depositions were not necessary to rule on the motion for summary judgment.

District Judge Margaret I. Strickland disagreed and on Jan. 16, 2024, ordered that PolyNatura shall have seven days to withdraw its previously filed motion for summary judgment without prejudice. With Judge Strickland's and Judge Ritter's ruling now in place, depositions are scheduled to start on Feb. 9, 2024.

Mehdi Azodi, president and chief executive officer of Belgravia, said:

"The recent developments and orders from the federal judges are positive steps to expediate the case to trial, Belgravia will be gathering further evidence along the way and regular updates will be made available on the progress of this case."

About Belgravia Hartford Capital Inc.

Belgravia Hartford Capital is a publicly traded investment holding company listed on the Canadian Securities Exchange. Belgravia is focused on growing its assets and holdings and increasing its net asset value (NAV). Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. It takes a multisector investment approach with emphasis in the resources and commodities sector. Belgravia and its investments are considered high-risk holdings and it may expose shareholders to significant volatility and losses.

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