Belvedere Resources Ltd.: Proposed Non-Brokered Private Placement
April 16 2014 - 4:47PM
Marketwired
Belvedere Resources Ltd.: Proposed Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 16, 2014) -
Belvedere Resources Ltd. (TSX-VENTURE:BEL) ("Belvedere") announces
that it is proposing to undertake a non-brokered private placement
to raise up to C$1,091,500 through the issuance of up to 5,900,000
common shares of Belvedere at a price of C$0.185 per share.
The subscribers of the private placement are investment funds
managed or controlled by Baker Steel Capital Managers LLP ("Baker
Steel"). Belvedere has agreed to grant Baker Steel the right to
have a nominee appointed to the Belvedere board or to nominate one
director for election to the Belvedere board provided that
investment funds managed or controlled by Baker Steel hold at least
14.9% of the issued and outstanding common shares of Belvedere.
The net proceeds from the private placement will be applied to
the general working capital of the Company and to develop mineral
assets.
The private placement is subject to approval by the TSX Venture
Exchange.
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.
Belvedere Resources Ltd.David PymCEO+1-604-844-2838Belvedere
Resources Ltd.Steven
CuthillCFO+1-604-513-0007www.belvedere-resources.com
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