Category Archives: News

Belvedere Closes Private Placement

Vancouver, British Columbia, June 19, 2015. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) announces that it has closed the non-brokered private placement (the “Offering”) previously announced on May 4, 2015, and has issued 17,300,000 common shares at a price of $0.05 per share, for gross proceeds of $865,000.
Zila Corporation (“Zila”) and Bottin (International) Investments Limited (“Bottin”) are each a “related party” to Belvedere under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) by virtue of their respective shareholdings being in excess of 10% of the total share capital of Belvedere. Zila, which upon completion of the Offering, now owns an aggregate of 3,441,325 common shares of Belvedere (“Common Shares”) representing approximately 18.2% of Belvedere’s share capital, and Bottin, which upon completion of the Offering, now owns an aggregate of 8,759,023 Common Shares representing approximately 11.9% of Belvedere’s share capital. Accordingly, the closing of the Offering is a “related party transaction” under MI 61-101. The Offering is a transaction that is exempt from (i) the formal valuation requirements under Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-
101 and (ii) from the minority approval requirements under Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(b) of MI 61-101.
The net proceeds from the Offering will be applied to the general working capital of Belvedere and are subject to a statutory hold period of four months and one day. The Offering remains subject to final
acceptance and approval by the TSX Venture Exchange. A finder’s fee will be payable in an amount not to exceed 5% of the gross proceeds, and such finder’s fee will be subject to TSX Venture Exchange acceptance.
BELVEDERE RESOURCES LTD.
Brian Hinchcliffe, Executive Chairman
Suite #404, Vancouver World Trade Centre, 999 Canada Place, Vancouver, B.C. V6C 3E2, Canada
Tel. 914-815-2773
bhinch3@gmail.com or brian.hinchcliffe@belmining.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.

Private Placement

Vancouver, British Columbia, May 4, 2015. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere” or
the “Company”) is proposing to undertake a non-brokered private placement to raise up to C$1 million
through the issuance of up to 20,000,000 common shares of Belvedere at a price of C$0.05 per share.
The net proceeds from the private placement will be applied to the general working capital of the Company.
The private placement is subject to acceptance and approval by the TSX Venture Exchange.

BELVEDERE RESOURCES LTD.
Brian Hinchcliffe, Executive Chairman
Suite #404, Vancouver World Trade Centre, 999 Canada Place, Vancouver, B.C. V6C 3E2, Canada
Tel. 914-815-2773
bhinch3@gmail.com or brian.hinchcliffe@belmining.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.

Belvedere Corporate Update

VANCOUVER, BRITISH COLUMBIA–(Marketwired – March 4, 2015) – Belvedere Resources Ltd. (TSX VENTURE:BEL) (“Belvedere” or the “Company”) a Company with production assets and gold exploration properties in Central Finland, announces corporate restructuring, and its next steps in the strategic testing of ore sorting technology in Germany.

David Pym has resigned as President and Chief Executive Officer and Dr. Toby Strauss has resigned as Chief Operating Officer. The Company thanks Messrs. Pym and Strauss for their many years of service. Both Mr. Pym and Dr. Strauss will remain on the Board as non-executive directors and serve the Company in a consulting capacity As the Company takes the next steps towards commercial gold production at its Kopsa gold property in Central Finland, it is fortunate to be able to draw on the experience of Messrs. Pym and Strauss.

Mr. Brian Hinchcliffe, who was recently appointed as Chairman of the Company, has been appointed as Executive Chairman. In addition, Mr. Hinchcliffe will assume the role of Chief Executive Officer of the Company.

The Company’s production vision is centered on modifying the 2,000 ton per day Hitura mill such that it can process gold ore from nearby gold deposits.

Forward Looking Statement: Some of the statements contained herein may be forward-looking statements, which involve known and unknown risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. It is important to note that the Company’s actual results could differ materially from those in such forward-looking statements.

BELVEDERE RESOURCES LTD.

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 the contents of this release.

Belvedere Resources Ltd.
Brian Hinchcliffe
Executive Chairman
914-815-2773
bhinch3@gmail.com or brian.hinchcliffe@belmining.com
www.belvedere-resources.com

First Tranche of Private Placement Closed and Board Changes

Vancouver, British Columbia, December 24, 2014.  Belvedere Resources Ltd. BEL:TSX-V (“Belvedere” or the “Company”) is pleased to announce that, further to its news releases of November 20 and November 27, 2014, it has closed the first tranche of the non-brokered private placement and has issued 15,009,286 common shares at a price of $0.07 per share, for aggregate gross proceeds of $1,050,650. The common shares issued in connection with this first tranche are subject to a hold period of four months and one day, expiring on April 25, 2015.

 

The net proceeds from the private placement will be applied to the general working capital of the Company.  Finder’s fees may be payable with respect to the private placement, subject to TSX Venture Exchange (“Exchange”) acceptance.

 

The private placement is a related party transaction within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”) as certain subscribers are insiders of the Company or are controlled by insiders of the Company. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the expected date of the closing of the first tranche of the private placement, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the private placement in an expeditious manner.  

 

In addition, the Company is announcing the resignation of Harry Dobson as Director and as Chairman of the board and Roger Clough as a non-executive director. Mr. Dobson, who is one of the founders of the Company, remains a significant stakeholder and continues to support its endeavors. Mr. Clough has resigned to concentrate on a new business venture and the Company wishes him well in the future.

 

The Company is pleased to announce the appointment of Mr. Brian Hinchcliffe, a longtime associate of Mr. Dobson, to the board as Chairman. Mr. Hinchcliffe has been involved in projects in the natural resources sector for nearly 20 years and sits on a number of mining company boards. He served as Vice President at Goldman Sachs for ten years before launching an entrepreneurial career. He spent the first ten years of his career working at J. Aron trading arm of Goldman Sachs, where he was responsible for the mining industry sector, working in both New York and London. Mr. Hinchcliffe founded American Pacific Mining with Harry Dobson, and then Jordex Resources. He later founded Kirkland Lake Gold with Mr. Dobson and served as President and CEO and subsequently Deputy Chairman. Mr. Hinchcliffe holds a BA from the State University of New York, and attended graduate school at the Hagan Business School at Iona College.