Mr. George Sookochoff reports
EXCHANGE ACCEPTS FILING $420,000 CONVERTIBLE LOAN
The TSX Venture Exchange has accepted for filing documentation by Belmont Resources Ltd. with respect to a $420,000 convertible loan from arm's-length parties.
The convertible debenture bears no interest before April 1, 2024. Interest on arrears of 12 per cent per annum will begin to accrue starting April 2, 2024, if the principal amount is not paid in full on April 1, 2024. Interest is payable in cash, anything else will be subject to TSX-V approval.
The lenders have the option to have the debt paid through the issuance of 14 million common shares, at a deemed value of three cents per share, subject to the approval of the TSX Venture Exchange.
About Belmont Resources Ltd.
Belmont Resources has assembled a portfolio of highly prospective copper, gold, lithium, uranium and rare earths projects located in British Columbia, Saskatchewan, Washington and Nevada.