Belgravia Hartford Capital (CNSX:BLGV)
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3 Months : From Nov 2019 to Feb 2020
BELGRAVIA HARTFORD CAPITAL INC. (formerly, Belgravia Capital International Inc.) (d/b/a Belgravia Hartford) (CSE:BLGV) (OTCQB:BLGVF) (“Belgravia Hartford”. “Belgravia” or the “Company”) today announce a corporate update.
Zonetail Inc. (TSX-V:ZONE) Application for Bankruptcy Order
In June 2019, Belgravia filed an Application for a Bankruptcy Order against Zonetail Inc. in the Superior Court (Bankruptcy and Insolvency Division), as referenced in the Company’s news release of November 1, 2019.
On December 17, 2019, Zonetail commenced a lawsuit against Belgravia claiming, among other things, $5,000,000 for special damages owing to its depleted share price.
There is no merit to Zonetail’s claims against Belgravia. Rather, it is Belgravia’s opinion that Zonetail commenced the proceedings against Belgravia in an attempt to delay any ruling on Zonetail’s clear insolvency and the inevitable repayment of the Bridge Loan in the amount of $325,000, which was released from the TSX Venture Exchange escrow on November 1, 2019. Belgravia continues to hold 3,562,500 common shares of Zonetail which remain subject to escrow.
Belgravia’s intends to vigorously defend against this frivolous lawsuit. Mr. Holmes, President of Zonetail, was also advised by Belgravia’s counsel that further public verbal attacks on Mr. Azodi will not be condoned.
Belgravia urges the Board of Zonetail to practice full and plain disclosure to its shareholders and investing public.
About Belgravia HartfordBelgravia Hartford Capital Inc. is a publically traded investment holding company which invests in public and private companies in legal jurisdictions and under the rule of law. Belgravia and its investments are high risk business ventures and expose shareholders to financial risks. Belgravia Royalty & Management Services has a royalty and fee income model. Further, the cash and investment asset base provide capital to support expansion on a selective basis.
For more information, please visit www.belgraviahartford.com.
Forward-Looking StatementsCertain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, statements regarding planned investment activities & related returns, the timing for completion of research and development activities, the potential value of royalties, and other statements that are not historical facts. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, changes in market trends, the completion, results and timing of research undertaken by the Company, risks associated with resource assets, the impact of general economic conditions, commodity prices, industry conditions, dependence upon regulatory, environmental, and governmental approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
For More Information, Please Contact:
Mehdi Azodi, President & CEOBelgravia Hartford Capital Inc.(416) firstname.lastname@example.org