| Belmont Files a 'Request for Arbitration' Under the Rule of the International Centre for Settlement of Investment Disputes ("ICSID") | |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 7, 2014) - Belmont Resources Inc. ("Belmont", the "Company")(TSX VENTURE:BEA)(PINKSHEETS:BEAAF)(FRANKFURT:L3L) Further to our news release of May 23, 2014 the Company announces the following update. Currently, Belmont and EuroGas, Inc. ("EuroGas") seek compensation under international law against the Slovak Republic. Under the applicable treaties, the Notice of Dispute sent in December 2013 was followed by a six-month "cooling off period", to allow a possible amicable settlement. Negotiations with the Slovak Republic however proved futile. Belmont and EuroGas therefore filed a Request for Arbitration under the Rule of the International Centre for Settlement of Investment Disputes ("ICSID"), under the auspices of the World Bank. The Executive Assistant to the Secretary General of ICSID has acknowledged receipt of the Request for Arbitration and of the required lodging fees, and notified the Request to the representatives of the Slovak Republic on June 27, 2014. The Company, together with EuroGas, is seeking damages from the Republic of Slovakia as compensation for the illegal revocation of their rights over the Gemerska Poloma talc deposit. All inquiries regarding the dispute with the Slovak Republic should be sent to Belmont's attorney, Dr. Hamid Gharavi, at Derains & Gharavi in Paris (hgharavi@derainsgharavi.com). ON BEHALF OF THE BOARD OF DIRECTORS Vojtech Agyagos, President and CEO, Director Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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EXPLORATION STAGE |
CODE : BEA.V |
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Belmont Res. is a gold exploration company based in . Belmont Res. holds various exploration projects in Canada. Its main exploration properties are PARTRIDGE RIVER, STORMY LAKE, CRACKINGSTONE RIVER, BATEMAN/SHAVER TOWNSHIP, BATEMAN TOWNSHIP, LUMBY BUFO, TOLMIE CLAIMS, RED LAKE (BATEMAN / SHAVER) and EAST BAY JV (RED LAKE) in Canada. Belmont Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.6 millions as of today (US$ 1.1 millions, € 1.1 millions). Its stock quote reached its highest recent level on June 30, 2000 at CA$ 9.92, and its lowest recent point on May 31, 2019 at CA$ 0.01. Belmont Res. has 45 000 000 shares outstanding. |