Belgravia Announces Increased Position in Imperial and Filing of Early Warning Report
Toronto, Ontario--(Newsfile Corp. - September 17, 2020) - BELGRAVIA HARTFORD CAPITAL INC. (CSE: BLGV) ("Belgravia" or the "Company") today announced that between January 30, 2020 and September 16, 2020, Belgravia Hartford Capital Inc. acquired directly a total of 3,472,514 common shares ("Common Shares") in the capital of Imperial Mining Group Ltd. (TSXV: IPG) ("Imperial Mining") representing 3.39% of the issued and outstanding Common Shares of Imperial Mining (the "Transactions").
Prior to the Transactions that gave rise to Belgravia's obligation to file an early warning report, Belgravia had owned directly 6,816,667 Common Shares representing 6.65% of the issued and outstanding Common Shares of Imperial Mining and 6,484,848 share purchase warrants (the "Warrants"). As a result of the Transactions, Belgravia owns 10,289,181 shares being 10.04% of the issued and outstanding shares on a non-diluted basis. If all of the Warrants were exercised, Belgravia would own, directly or indirectly, or exercise control or direction over, approximately 16.37% deemed beneficial shareholding percentage.
Belgravia Hartford President and CEO Mehdi Azodi said, "Belgravia Hartford is committed to investing in the overall development of Imperial's asset portfolio of gold and base metals projects as well as its Crater Lake scandium-rare earth's project; which we believe will be a valuable and important new technology sector to many organizations across a variety of verticals. Furthermore, Imperial's Peter Cashin and its board of directors remain focused and resolute through strong and ethical management."
Belgravia Hartford Chief Operating Officer Deena Siblock added, "Imperial's continuing commitment to responsible social practices and strong governance is imperative as they look to create value for the broader stakeholder group."
Belgravia's acquisition was made for investment purposes. In accordance with applicable securities laws, Belgravia may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of Imperial Mining in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Imperial Mining and other relevant factors.
A copy of the early warning report filed by Belgravia is available on SEDAR under Imperial Mining's profile on www.sedar.com.
Belgravia 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.
For more information, please visit www.belgraviahartford.com.
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 & CEO
Belgravia Hartford Capital Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64057