BELGRAVIA Announces Acquisition of Securities of Blackrock Gold
January 31 2020 - 8:00AM
BELGRAVIA HARTFORD CAPITAL INC. (CSE:BLGV) (OTCQB:BLGVF)
(“Belgravia Hartford”, “Belgravia” or the “Company”) today
announced the acquisition on January 30, 2020 of 2,000,000 units
("Units") of Blackrock Gold Corp. (TSX-V:BRC) (“Blackrock
Gold”) pursuant to a private placement. Each Unit consisted of
one common share and one-half common share purchase warrant of
Blackrock Gold, each whole warrant entitling the holder to acquire
one additional common share until January 30, 2022 at an exercise
price of $0.30 per share.
The Units were purchased at a price of $0.20 per
Unit for total consideration of $400,000. The common
shares acquired by Belgravia Hartford represent approximately
3% of the issued and outstanding common shares of Blackrock
Gold.
Mehdi Azodi, Belgravia’s President and CEO,
stated “Belgravia is confident in the leadership at Blackrock Gold
and further due diligence supports the advancement of the Silver
Cloud project in Nevada.”
John Stubbs, Belgravia’s Board Chairman, stated “The recent
positive drilling results in Nevada by Blackrock Gold would
underscore the case for additional work to be undertaken, to
further develop the Silver Cloud project.”
Prior to this acquisition, Belgravia Hartford directly owned
9,780,000 common shares of Blackrock Gold and 2,640,000
warrants for a total deemed beneficial ownership of 12,420,000
common shares of Blackrock Gold, representing 18.9% of the deemed
outstanding shares. After the completion of the private
placement, Belgravia Hartford now directly
owns 11,780,000 common shares representing approximately
17.8% of the issued and outstanding common shares, together
with warrants to acquire an aggregate of 3,640,000 common
shares of Blackrock Gold. If Belgravia Hartford were to exercise
these convertible securities, the Company would own 15,420,000
common shares of Blackrock Gold, representing approximately 22.2%
of the issued and outstanding common shares deemed outstanding as
of such date. This represents a decrease of 2% since its previous
Early Warning Report filed on August 19, 2019 of a beneficial
shareholding of 24.2%.
The common shares were acquired for investment
purposes. Belgravia Hartford may, from time to time,
depending on market and other conditions, increase or decrease its
beneficial ownership, control or direction over securities of
Blackrock Gold through market transactions, private agreements
or otherwise.
This press release is being issued pursuant to National
Instrument 62-103 – The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues which requires a report
to be filed under Blackrock Gold’s profile on SEDAR (www.sedar.com)
containing additional information respecting the foregoing
matters.
About Belgravia
HartfordBelgravia 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. Belgravia Royalty &
Management Services has a royalty and fee income model. Further,
the cash and investment asset base provide capital to support
expansion on a selective basis.
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 & CEOBelgravia
Hartford Capital Inc.(416) 779-3268 mazodi@blgv.ca
Belgravia Hartford Capital (CSE:BLGV)
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