Belmont Assets Closes $117,040 – 2nd and Closing Tranche of Oversubscribed NFT Personal Placement

Vancouver, B.C. Canada – TheNewswire – February 8, 2021 – Belmont Assets Ltd. (“Belmont”), (or the “Firm”), (TSXV:BEA) (FSE:L3L2) pronounces that it has utilized to the TSX Enterprise Trade for approval to shut the twond and closing  tranche of the non-public placement introduced on December 15, 2020  and conditionally accepted on January 6, 2021.

NFT Items:

Topic to approval, the Firm will situation 1,672,000 Items.  Every NFT Unit consists of 1 frequent share of the Firm (a “Frequent Share”) and one transferable share buy warrant (a “Warrant”). Every Warrant entitles the holder to buy one Frequent Share at a worth of $0.10 for a interval of two years from the preliminary time limit of the financing.

The usage of proceeds of the financing shall be used for normal company and dealing capital functions.

Acceleration Clause on Warrants:

The Warrants are topic to an accelerated expiry date, which comes into impact when the buying and selling worth on the TSX Enterprise Trade of the Firm’s frequent shares closes at or above $0.15 per share for 10 consecutive buying and selling day commencing 4 months plus at some point after the closing. (date of share/warrant issuance).    In such occasion, the Firm might speed up the expiry date of the Warrants by disseminating a press launch, offering the Warrant holders with an acceleration discover (the “Discover”)  and in such case the Warrants will expire on the thirtieth day after the date on which such press launch is disseminated.

All securities issued beneath this non-public placement, and the shares that could be issuable on the train of the warrants, are topic to a statutory maintain interval expiring four-months and at some point from issuance and to customary closing circumstances together with, however not restricted to, receipt of relevant regulatory approvals, together with approval of the TSX-V.

In regards to the Firm:

The Firm’s Greenwood Mining Camp mission portfolio consists of:

Athelstan & Jackpot Gold mines (Athelstan-Jackpot property – 100%)

Bertha & Pathfinder Gold-Silver mines (Pathfinder property – 100%).

Betts Copper-Gold mine (Come By Probability property – 100%)

Lone Star Copper-Gold mine (Lone Star Property – LOI)


Belmont Property Map 

 ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, CEO/President

Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (because the time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this information launch.  

This Press Launch might include forward-looking statements that will contain quite a few dangers and uncertainties, based mostly on assumptions and judgments of administration relating to future occasions or outcomes that will show to be inaccurate on account of exploration and different danger elements past its management.   Precise occasions or outcomes might differ materially from the Corporations forward-looking statements and expectations.  These dangers and uncertainties embrace, amongst different issues, that we might not have the ability to get hold of regulatory approval; that we might not have the ability to increase funds required, that circumstances to closing might not be fulfilled and we might not have the ability to manage and perform an exploration program in 2020, and different dangers related to being a mineral exploration and improvement firm. These forward-looking statements are made as of the date of this information launch and, besides as required by relevant legal guidelines, the Firm assumes no obligation to replace these forward-looking statements, or to replace the explanation why precise outcomes differed from these projected within the forward-looking statements.


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