Toronto, Ontario--(Newsfile Corp. - October 2, 2020) - BELGRAVIA HARTFORD CAPITAL INC. (CSE: BLGV) ("Belgravia" or the "Company") provides a corporate update and outlook for the coming quarters.
Mehdi Azodi, President & CEO, Belgravia Hartford stated, "2020 has demonstrated to be a year of challenges, however, some auspicious opportunities have also presented themselves. We have been seeking to own an operating subsidiary and it seems intuitively we elected to pass on every opportunity and held onto our core investments. Ending the year and going into 2021, we have the luxury of liquidity; to be selective on the projects and sectors we believe can increase our NAV and enhance shareholder value."
Chatsworth Ventures
Belgravia has commenced financing of Chatsworth Ventures, a private resource exploration company, which intends to be a publicly traded company under the name of Autumn Resources. Belgravia currently owns 50% and intends to fund the majority of the financing requirements until the public financing round is announced. Belgravia has nominated the following Board members: Alex Klenman, John Stubbs, Nick Houghton and Kevin Shum. Chatsworth is holding its AGM on October 9th. Greater detail of structure, ownership, and assets to be made available in Q4 of 2020.
Imperial Mining Group (TSXV: IPG)
On September 17th Belgravia announced it has acquired over 10% of the shares of IPG, since then, Belgravia has added to its holdings. The thesis behind this investment is that in 2011, the rare earths sector went on a parabolic rise due to economic policies from China and surging demand. Under the strong leadership of Peter J. Cashin, IPG holds a 100% interest in three of its properties in Quebec and 50% in a fourth Quebec property, covering over 100 km2 and a collective 229 contiguous mining claims. Two rare earth properties in Quebec garnered international financing to further investigate the economic viability of the assets. Given the current political landscape and demand outlook for scandium and other rare earths, Belgravia has made several investments which has resulted in ownership of over 10%.
Zonetail (TSXV: ZONE)
On September 29th Belgravia issued a claim against Zonetail Inc. seeking over $2.85M CAD in damages alleging defamation, breach of contract and tortious interference. Zonetail's 'promise to pay' its debt in the amount of $325,000 in cash to Belgravia is, and remains, in default. Belgravia seeks full payment of this promissory note with accrued 18% interest. The equity and debt ownership of Zone in the Belgravia portfolio is less than 3% of the Belgravia's total assets.
Belgravia urges the board of Zonetail to conduct itself in the best interests of all shareholders/debtholders with proper corporate governance practices and full, true, and plain disclosure.
Blackrock Gold (TSXV: BRC)
Belgravia continues to own over 11% of the securities issued by Blackrock Gold and remains committed due to the confidence it has in the leadership of Andrew Pollard to execute the plans for both Tonopah and Silver Cloud. The positive assay results from its recent drill program has increased confidence in its 100% owned Tonopah West project together with a long-term outlook for gold and silver is the main catalyst for Belgravia's continued ownership.
Investment Advisory Committee
Belgravia announced earlier in 2020 that it will announce the members of the Investment Advisory Committee. Thus far, the Company has interviewed various potential candidates and will formally announce the new committee members in 2021.
About Belgravia
Belgravia 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.
For more information, please visit www.belgraviahartford.com
Forward-Looking Statements
Certain 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 & CEO
Belgravia Hartford Capital Inc.
(416) 779-3268
mazodi@blgv.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65105
