Belgravia Hartford Announces Private Placement

June 06, 2024 10:42 AM EDT | Source: Belgravia Hartford Capital Inc

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All dollar amounts are in Canadian dollars unless otherwise indicated‎.

Toronto, Ontario--(Newsfile Corp. - June 6, 2024) - BELGRAVIA HARTFORD CAPITAL INC. (CSE: BLGV) ("Belgravia Hartford" or the "Company"), ‎is pleased to announce that it intends to complete a non-brokered private placement of units of the Company (the "Units"), at a price of $0.021 per Unit, for aggregate gross proceeds of up to $400,000 (the "Offering").

Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant of the Company (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one further Common Share (each, a "Warrant Share") at a price of $0.04 per Warrant Share for a period of 12 months after the closing date of the Offering. ‎

The proceeds from the Offering will be used for general working capital purposes. It is intended there will be insider participation but the Offering will not result in a new insider nor control position being created, nor will the Offering materially affect control of the Company.

Mehdi Azodi President & CEO commented on the state of the company by saying: "Over the last year Belgravia has focused on the litigation affairs in order to monetize its Ochoa Royalty asset. The Company has completed all depositions and provided an expert report completed by FTI Consulting that highlights the significant lost opportunity for Belgravia, above and beyond the USD$12.2M that remains owed. Belgravia has faced significant delay tactics, however, Belgravia's counsel Mr. Spencer L. Edelman of Modrall Sperling Law Firm (Albuquerque, New Mexico) has navigated these issues and we are now preparing for trial."

Mehdi Azodi commented further, "The Belgravia family is saddened with the passing of former director Mr. Knute Lee Jr. who was a humble man of faith and love in all walks of his life. His dedication to the Ochoa project dates back to the inception of the Company and his fingerprints have been on IC Potash and Belgravia every step of the way."

The Offering is expected to close on or about June 18, 2024, or on any other date or dates as the Company may determine. Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all required regulatory approvals including the approval of the Canadian Securities Exchange (the "CSE"). The securities issued under the Offering will be subject to ‎a statutory hold period of four months and one day following the date of issuance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the "United States" or to "U.S. persons" (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About Belgravia Hartford

Belgravia Hartford Capital Inc. is a publicly traded investment holding company listed on the Canadian Securities Exchange. Belgravia is focused on growing its assets and holdings and increasing its net asset value (NAV). Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. It takes a multi-sector investment approach with emphasis in the resources and commodities sector. Belgravia and its investments are considered high risk holdings and it may expose shareholders to significant volatility and losses.

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The CSE has not reviewed, approved or disapproved the content of this news release.

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 the timing for completion of the Offering, the anticipated use of proceeds of the Offering, 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 & CEO
Belgravia Hartford Capital Inc.
(416) 779-3268

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