News Release
January 5, 2018 TSX-V Symbol: BEL
BELVEDERE ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF COMMON SHARES
Vancouver, British Columbia – Belvedere Resources Ltd. (TSX-V: BEL) (the “Company”) is pleased to announce that, on January 5, 2018, it closed the previously announced non-brokered private placement (the “Private Placement”) of 4,166,666 common shares of the Company (“Common Shares”) at an issue price of C$0.06 per Share, for aggregate gross proceeds of approximately C$250,000.
The securities issued in connection with the Private Placement are subject to a hold period of four months and one day from the closing of the Private Placement.
The net proceeds from the Private Placement will be used in connection with continued operations of the Company, payment of outstanding debts, examining what financial and strategic alternatives may be available to the Company and towards general and administrative expenses.
In connection with the Private Placement, the Company has agreed to pay Smaller Company Capital Ltd. (“SCC”) a finder’s fee in the form of 208,333 Common Shares, an amount equal to 5% of the total issued Common Shares under the Private Placement, as well as an agent’s warrant to acquire up to 208,333 Common Shares at a price of $0.06 per share for a period of 12 months from the date of issuance.
BELVEDERE RESOURCES LTD.
Brian Hinchcliffe, Executive Chairman
c/o 82 Richmond Street East, Suite 200, Toronto, ON, M5C 1P1
Tel. +1 (914) 815 2773
bhinch3@gmail.com
www.belvedere-resources.com
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.