Business
Belmont Applies For Approval of Warrant Exercise Incentive
(TheNewswire) Vancouver, BC, Canada - TheNewswire - September 10, 202...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Applies For Approval of Warrant Exercise Incentive\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, BC, Canada -\n \n \n TheNewswire\n \n \n - September 10, 2021;\nBelmont Resources Inc. (TSXV:BEA\n \n \n )\n \n \n (\n \n \n Frankfurt:L3L2) (“Belmont” or the\n“Company”) announces that it intends to apply for approval of a\nwarrant exercise incentive program (the “Incentive Program”) with\nthe TSX Venture\n \n \n \n \n Exchange (the “Exchange”).\n \n \n \n \n As announced on March 31, 2020 and April 28, 2020, the\nCompany completed private placement offerings of 6,655,500 Units at\n$0.03. Each Unit was comprised of one (1) common share and one (1)\nshare purchase warrant for two (2) years at $0.05 from the date of\nissuance (the “Placement Warrants”). The Company has 5,780,500\noutstanding Placement Warrants priced at 0.05 cents expiring March 31,\n2022 and April 28, 2022.\n \n \n \n \n Under the proposed Incentive Program, if the Placement\nWarrants are exercised prior to 4:00 p.m. (Vancouver Time) on the 30th\nday after TSX Venture Exchange Approval (the “Incentive Period”),\nthe Placement Warrant holder will receive one (1) additional warrant\n(an “Incentive Warrant”) in consideration of the early exercise of\neach Placement Warrant. Each Incentive Warrant will be exercisable to\nacquire one (1) common share of the Company at a price of $0.10 per\nshare for a period of one (1) year from the date of issuance. The\nCompany believes this will give existing Placement Warrant holders the\nright incentive to exercise their Placement Warrants. The Incentive\nWarrants and any Shares issued upon the exercise of the Incentive\nWarrants will be subject to a hold period expiring four months plus\none day after the date of distribution of the Incentive\nWarrant.\n \n \n \n \n In the event a Placement Warrant holder determines not\nto participate in the Incentive Program, then following the expiry of\nthe Incentive Period, the Placement Warrant holder may exercise the\nPlacement Warrants on their original terms or allow them to expire\nunexercised.\n \n \n \n \n No Directors or Officers of the Company will\nparticipate in the Incentive Program.  The Company is not aware of\nany potential new insider position that would be...