Business
Belmont Resources Announces Financing of $1,363,500
(TheNewswire) April 3, 2025 – TheNewswire - Vancouver, B.C., Canada; Bel...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Resources Announces Financing of $1,363,500\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n April 3, 2025 –\n \n\n TheNewswire -\n \n\n Vancouver, B.C., Canada;\n \n\n Belmont Resources\n \n\n Inc.\n \n\n (“Belmont”\nor the “Company”) (\n \n\n TSX.V:\nBEA; FSE: L3L2\n \n\n ) proposes to undertake a private\nplacement of securities to raise total gross proceeds of up to\n$1,363,500.  The financing shall consist of 30,300,000 common shares\nat $0.045.\n \n\n\n\n Policy 4.1 -\n \n\n Private Placements\n \n\n (\"Policy 4.1\")\nof the TSX Venture Exchange (“TSXV”) Corporate Finance Manual\nrequires shareholder approval where a transaction results in a\nshareholder or combination of shareholders holding or controlling 20%\nor more of the Company’s shares (a \"Control Person\").\n The Company anticipates that, upon completion of the financing,\nthree investors HMS Bergbau AG (“HMS”), ERAG Energie &\nRohstoff AG PCC (“ERAG”) and LaVo Verwaltungsgesellschaft MBH\n(“LaVo”) will on a combined basis comprise a Control Person within\nthe meaning of Policy 4.1.  To fulfil the requirements of Policy 4.1,\nthe Company will hold a special general meeting scheduled to take\nplace at 11:00 AM (Pacific Time) on May 30, 2025 (the “Meeting”)\nat which a resolution will be presented to shareholders to approve the\ncreation of a Control Person.  The record date for the special\ngeneral meeting has been set for April 25, 2025.\n \n\n\n\n Pursuant to Policy 4.1, if a transaction results in the\ncreation of a new Control Person, the TSXV requires the ‎Company to\nobtain shareholder approval of the transaction on a disinterested\nbasis, excluding any shares held by ‎the new Control Person and its\nassociates and affiliates.‎\n \n\n\n\n HMS is a public company incorporated in Germany in\n1995. HMS trades on the Deutsche Börse exchange (HMU), Berlin Stock\nExchange (HMUG) and Frankfurt Stock Exchange (HMU.DE). Mr. Dennis\nSchwindt is the CEO and Mr. Jens Moir is the CFO.\n \n\n\n\n ERAG is a private company based in\n \n\n Vaduz, Liechtenstein, founded on July 27, 2006.\n \n\n Dr. Lars Schernikau is a control person of\nERAG.\n \n\n\n\n LaVo is a private company based in Berlin, Germa...