Business
Belmont Resources Closes $444,000 Private Placement
(TheNewswire) July 25, 2023 – TheNewswire - Vancouver, B.C., Canada - Belmon...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Resources Closes $444,000 Private Placement\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 25, 2023 –\n \n \n TheNewswire -\n \n \n Vancouver, B.C., Canada - Belmont Resources Ltd.\n(“Belmont” or the “Company”) (TSXV:BEA\n \n \n )\n \n \n ;\n \n \n (\n \n \n FSE:L3L2) is pleased to announce that it has closed a\nnon-brokered private placement offering (the \"Offering\") for\naggregate gross proceeds of $444,000.  The Company will issue\n14,800,000 common shares (the “Common Shares”) at $0.0\n \n \n \n \n 3.  Warrants are not\nattached to the Offering and no finder’s fee will be paid.\n \n \n \n \n The Common Shares issued will be subject to a hold\nperiod expiring four months and one day from issuance.  The Company\nwill now apply to the TSX Venture Exchange to issue the Common\nShares.\n \n \n \n \n The Company intends to use the net proceeds of the\nPrivate Placement for (1) $210,000 exploration expenditures; (2)\n$50,000 property payments; (3) $70,000 office, audit & legal; (4)\n$30,000 management fees; (5) $24,000 European marketing services; and\n(6) unallocated working capital $60,000.  While the Company intends\nto spend the net proceeds from the Offering as stated above, there may\nbe circumstances where, for sound business reasons, funds may be\nre-allocated at the discretion of the Board.\n \n \n \n \n About Belmont Resources\n \n \n \n \n Belmont Resources has assembled a portfolio of highly\nprospective copper, gold, lithium, uranium and rare earths projects\nlocated in British Columbia, Saskatchewan, Washington and Nevada\nStates. Its holdings include:\n \n \n \n \n \n \n Athelstan-Jackpot (A-J):\n \n \n 2 former gold mines. 2,000m drilling to target new lode-gold\ndeposit target in North Zone. Targeting multi-coincident geophysical\nanomaly on strike with neighboring gold trend and gold mines.\n Drilling is planned to start approximately August 15,\n2023\n \n \n \n \n \n \n \n \n \n Crackingstone\n \n \n Uranium-Rare Earths:\n \n \n Some of the highest grade Rare Earth Elements (REE’s) are being\ndiscovered in Northern Saskatchewan due to the presence of Uranium,\nThorium Pegma\n \n \n ti\n \n \n te.\nCrackingstone project meets the criteria for poten\n \n \n ti\n \n \n al...