Business
Belmont Resources Announces Equity Investment from Singapore and Liechtenstein Private Investment Holding Companies
(TheNewswire) July 18, 2023 – TheNewswire - Vancouver, B.C., Canada; Bel...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Resources Announces Equity Investment from Singapore and Liechtenstein Private Investment Holding Companies\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n July 18, 2023 –\n \n \n TheNewswire -\n \n \n Vancouver, B.C., Canada;\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 ) is pleased to announce that it has entered into\nsubscription agreements for a private placement financing (the\n“Private Placement”) with private investment holding companies\nadvised by bgm Partners of Vienna, Austria.\n \n \n \n \n Under the terms of the private placement, Belmont\nResources will issue 7,000,000 common shares\n \n \n (“Common Shares”)\n \n \n in the capital of\nthe Company to each of two private investment holding companies,\nCommodities and Resources Pte.Ltd of Singapore and\n \n \n \n \n ERAG Energie & Rohstoff AG PCC\n \n \n of Liechtenstein at a price of C$0.03 per Common\nShare for gross proceeds of C$420,000. There are\n \n \n no share purchase warrants attached to the offering nor are\nthere any finder’s fees payable.\n \n \n \n \n ERAG Energie & Rohstoff AG PCC and Commodities and\nResources Pte.Ltd are privately owned investment holdings which invest\nin companies that are active in the commodities sector (incl.\ncommodity trading), mining and energy.  Both companies are arms\nlength and there will be no new insiders or control positions pursuant\nto the closing.\n \n \n \n \n The Company welcomes Commodities and Resources Pte.Ltd\nand ERAG Energie & Rohstoff AG PCC as strategic investors with a\nlong-term focus and support for the development of the Company’s\nProjects.\n \n \n \n \n The Company has also received an additional\nSubscription Agreement totaling $24,000 (800,000 shares) from a third\narms length place.\n \n \n \n \n Closing of the Private Placement is anticipated to\noccur on or around July 24, 2023, and is subject to certain customary\nconditions including, but not limited to, the receipt of all necessary\nregulatory approvals including the approval of the TSX.V Exchange. The\nCommon Shares issued pursuant to the Private Placement will be subject\nto a hold period of four (4) months and one (...