| Belvedere Resources Ltd: Private Placement and Loan | |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 15, 2014) - Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere" or the "Company") is proposing to undertake a non-brokered private placement to raise up to C$ 1 million through the issuance of up to 7,142,857 common shares of Belvedere at a price of C$ 0.14 per share. In addition, Zila Corporation, a company in which a director of Belvedere has a controlling interest, has agreed to lend C$ 200,000 to the Company (the "Loan") for general working capital purposes. The Loan is to be repaid in cash within six months or upon completion of the private placement, whichever occurs first. The Loan is secured against the assets of the Company and is non-interest bearing. An arrangement fee of C$ 5,000 will be paid by the Company to the Lender in connection with the Loan. The Loan will constitute a related party transaction under Multilateral Instrument 61-101 ("MI 61-101"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61‐101, as the Company intends to rely on the exemptions found in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the transaction will not exceed 25% of Belvedere's market capitalization. The net proceeds from the private placement will be applied to repay the Loan and to the general working capital of the Company and development of mineral assets. The private placement is subject to acceptance and approval by the TSX Venture Exchange. BELVEDERE RESOURCES LTD. David Pym, CEO; Suite #404, Vancouver World Trade Centre, 999 Canada Place, Vancouver, B.C. V6C 3E2, Canada Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Belvedere Resources Ltd.
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EN DÉVELOPPEMENT |
CODE : BEL.V |
ISIN : CA0809031077 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Belvedere Res. est une société d’exploration minière de nickel et de cuivre basée au Canada. Belvedere Res. est en développement de projets de nickel, de cuivre et de cobalt en Finlande, et détient divers projets d'exploration en Finlande. Ses principaux projets en développement sont HAUTALAMPI et HITURA en Finlande et ses principaux projets en exploration sont LUIKONLAHTI MILL, HIRSIKANGAS, HAARAKUMPU, VALKEISENRANTA, SAHAKOSKI, OSIKONMÄKI, SARKINIEMI, KIIMALA, RANTASALMI et MÄNTYMÄKI en Finlande. Belvedere Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 60,6 millions CA$ (46,7 millions US$, 39,7 millions €). La valeur de son action a atteint son plus haut niveau récent le 13 juin 1997 à 9,99 CA$, et son plus bas niveau récent le 01 janvier 2016 à 0,01 CA$. Belvedere Res. possède 73 904 013 actions en circulation. |