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| Home : Belvedere Resources Ltd: Private Placement and Loan |
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Oct 16
2014 |
Belvedere Resources Ltd: Private Placement and Loan |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 15, 2014) - Belvedere Resources Ltd. (TSX VENTURE:BEL) ("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 7,142,857 common shares of Belvedere at a price of C$ 0.14 per share. In addition, Zila Corporation, a company in which a director of Belvedere has a controlling interest, has agreed to lend C$ 200,000 to the Company (the "Loan") for general working capital purposes. The Loan is to be repaid in cash within six months or upon completion of the private placement, whichever occurs first. The Loan is secured against the assets of the Company and is non-interest bearing. An arrangement fee of C$ 5,000 will be paid by the Company to the Lender in connection with the Loan. |
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| Source:http://www.marketwired.com/mw/release.do?id=1958084&sourceType=3 |
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