Belgravia Hartford Announces Decreased Position in Blackrock Gold Below 10%
Toronto, Ontario--(Newsfile Corp. - January 21, 2021) - BELGRAVIA HARTFORD CAPITAL INC. (CSE: BLGV) ("Belgravia" or the "Company") today announced that, as a result of open market dispositions made between July 21, 2020 and January 20, 2021 of 2,510,000 Common Shares (collectively, the "Transactions"), the Company no longer holds over 10% of the issued and outstanding shares of Blackrock Gold Corp. ("Blackrock Gold").
Between July 21, 2020 and January 20, 2021, the Company disposed of 2,510,000 common shares of Blackrock Gold through the facilities of the Toronto Stock Exchange at an average price of $0.88 per Common Share for a total consideration of $2,203,691. Prior to the Transactions that gave rise to Belgravia's obligation to file an early warning report, Belgravia had owned directly 12,260,000 Common Shares representing 11.36% of the issued and outstanding Common Shares of Blackrock Gold and continues to hold 1,000,000 common share purchase warrants exercisable at $0.30 until January 30, 2022 (the "Warrants"). As a result of the Transactions, Belgravia owns 9,750,000 Common Shares being 9.04% of the issued and outstanding shares on a non-diluted basis. As a result of the Transactions, the Company has decreased its holdings in Blackrock Gold by 2.32%. If all of the Warrants were exercised, Belgravia would own, directly or indirectly, or exercise control or direction over, approximately 9.96% deemed beneficial shareholding percentage.
The Blackrock Gold shares were sold for investment purposes. Liquidating these common shares provided Belgravia the opportunity to increase other key security holdings we feel are undervalued. 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 Blackrock Gold 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 Blackrock Gold and other relevant factors.
This press release is being issued in pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with the regulatory authorities in each jurisdiction in which the Issuer is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will be filed on SEDAR under Blackrock Gold's profile at 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.
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