Belvedere Completes Private Placement
Posted on 1275386352
June 1, 2010 Exchange: TSX V Symbol: BEL
Belvedere Completes Private Placement
Vancouver, British Columbia, June 1, 2010. Belvedere Resources Ltd. BEL:TSX-V ("Belvedere") announces that it has completed its recently announced Brokered Private Placement for gross proceeds of $2,536,450.05 through the sale of 16,909,667 Common shares (the "Shares") at a price of $0.15 per Share. The agent for the Private Placement was London stockbrokers Ocean Equities Ltd.
The Shares are subject to a hold period and may not be traded until October 2, 2010 except as permitted by Canadian securities legislation and the TSX Venture Exchange.
A finders fee of $126,822.50 was paid by Belvedere to Ocean Equities Ltd. The $126,822.50 represents 5% of the funds raised. Ocean Equities Ltd. will be reimbursed for all of its reasonable costs, charges and other out of pocket expenses incurred in the Private Placement. The net proceeds will be applied to the general working capital of Belvedere and to develop the Hitura nickel mine and the gold assets of the Company.
BELVEDERE RESOURCES LTD.
David Pym, CEO; Suite #404, Vancouver World Trade Centre, 999 Canada Place, Vancouver. BC. V6C 3E2, Canada
For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit
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.