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Belmont Closes $117,040 - 2nd and Final Tranche of Oversubscribed NFT Private Placement
(TheNewswire) Vancouver, B.C. Canada – TheNewswire - February ...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Closes $117,040 - 2nd and Final Tranche of Oversubscribed NFT Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C. Canada –\n \n \n TheNewswire - February 8, 2021 -\n \n \n Belmont Resources Ltd.\n \n \n (“Belmont”), (or the “Company”), (\n \n \n TSXV:BEA\n \n \n )\n \n \n (\n \n \n FSE:L3L2\n \n \n ) announces that it has applied to the TSX Venture Exchange\nfor approval to close the 2\n \n \n nd\n \n \n and final  tranche of the private\nplacement announced on December 15, 2020  and conditionally accepted\non January 6, 2021.\n \n \n \n \n NFT Units:\n \n \n \n \n Subject to approval, the Company will issue 1,672,000\nUnits.  Each NFT Unit consists of one common share of the Company (a\n“Common Share”) and one transferable share purchase warrant (a\n“Warrant”). Each Warrant entitles the holder to purchase one\nCommon Share at a price of $0.10 for a period of two years from the\ninitial closing date of the financing.\n \n \n \n \n The use of proceeds of the financing will be used for\ngeneral corporate and working capital purposes.\n \n \n \n \n Acceleration Clause on\nWarrants:\n \n \n \n \n The Warrants are subject to an accelerated expiry date,\nwhich comes into effect when the trading price on the TSX Venture\nExchange of the Company’s common shares closes at or above $0.15 per\nshare for 10 consecutive trading day commencing four months plus one\nday after the closing. (date of share/warrant issuance).    In such\nevent, the Company may accelerate the expiry date of the Warrants by\ndisseminating a press release, providing the Warrant holders with an\nacceleration notice (the “Notice”)  and in such case the Warrants\nwill expire on the 30th day after the date on which such press release\nis disseminated.\n \n \n \n \n All securities issued under this private placement, and\nthe shares that may be issuable on the exercise of the warrants, are\nsubject to a statutory hold period expiring four-months and one day\nfrom issuance and to customary closing conditions including, but not\nlimited to, receipt of applicable regulatory approvals, including\napproval of the TSX-V.\n \n \n \n \n About the Company:\n \n \n \n \n The Company’s Greenwood Mining Camp project po...