CRICKETS ANYONE Almost two months since Sleepy Rounder George capped er at a nick on this pipe dream NR. How's the financing coming Sleepy? CRICKETS IS THAT CRICKETS I HEAR. Dreamers, silly little dreamers!!
2023-01-24 16:34 ET - News Release
Mr. George Sookochoff reports
BELMONT ARRANGES $875,000 PRIVATE PLACEMENT
Belmont Resources Ltd. has arranged a private placement of securities to raise total gross proceeds of up to $875,000. The financing shall consist of flow-through units and non-flow-through units.
Non-flow-through
The company shall offer seven million units at five cents each for gross proceeds of $350,000. Each unit shall consist of one common share and one warrant exercisable for two years at 10 cents each during the first year and 15 cents each in the second year.
The company intends to use the gross proceeds of the non-flow-through financing for working capital.
Flow-through
The company shall offer 7.5 million flow-through units at seven cents each for gross proceeds of $525,000. Each flow-through unit shall consist of one flow-through common share and one warrant exercisable for two years at 10 cents each during the first year and 15 cents in the second year.
The company intends to use the gross proceeds of the flow-through financing to incur Canadian exploration expenses and flow-through mining expenditures, as defined in the Tax Act, on the CBC copper-gold porphyry target and AJ gold-silver project in British Columbia, which will be incurred on or before Dec. 31, 2023. While the company intends to spend the net proceeds from the offering as stated above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the board.
The company may pay a finders' fee in accordance with the policies of the TSX Venture Exchange.
All securities issued shall be subject to a hold period expiring four months and one day from their date of issuance. Completion of the financing, the issuance of the securities and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.