Business
Belmont Resources Completes Warrant Exercise Incentives for $130,000 (AMENDMENT)
(TheNewswire) Vancouver, B.C. Canada – TheNewswire - October 1...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Resources Completes Warrant Exercise Incentives for $130,000 (AMENDMENT)\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, B.C. Canada –\n \n \n TheNewswire -\n \n \n October 12, 2021;\n \n \n Belmont Resources Inc.\n(TSXV:BEA\n \n \n )\n \n \n (\n \n \n Frankfurt:L3L2)\n \n \n (“Belmont”), (or the\n“Company”).  Further to our earlier news release the Company\namends the news release as follows.  It is pleased to report that\npursuant to the Company’s early Warrant Exercise Incentive Program\n(the “Incentive Program”) as announced on September 10, 2021,\ncertain warrant holders have exercised a total of 2,600,000 (amended\nfrom 2,100,000) warrants for total gross proceeds to the Company of\n$130,000.\n \n \n \n \n The Company will issue 2,600,000 common shares through\nthe exercise of the original warrants and issue  2,600,000 incentive\nwarrants.  Each incentive warrant entitles the holder to acquire an\nadditional common share of the Company at a price of $0.10 per share\nuntil October 12, 2022.  The incentive warrants and any shares issued\nupon exercise of the incentive warrants are subject to a hold period\nexpiring four months plus on day from issuance.  Funds raised will\nprimarily be used for working capital and exploration on\nproperties.\n \n \n \n \n The balance of the 3,180,500 warrants (amended from\n3,680,500) that were not exercised under the Incentive Program will\nremain outstanding and continue to be exercisable for common shares of\nthe Company at a price of $0.05 per share until the original expiry\ndates of April 29, 2022 and May 7, 2022.\n \n \n \n \n The Company will now apply to the TSX Venture Exchange\nfor final acceptance to close the Incentive Program and issue the\nsecurities.\n \n \n \n \n About Belmont Resources\n \n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n Belmont Resources is engaged in the business of\nacquiring and re-developing past producing copper-gold-silver mines in\nsouthern British Columbia and Northern Washington State. This region\nis considered to have the highest concentration of mineralization and\npast producing mines in western North America. By utilizing new\nexploration technology, geological modelling and specialized 3D data\nanalysis, the company is su...