Belvedere Resources Ltd.
TSX VENTURE : BEL

Belvedere Resources Ltd.

April 30, 2010 18:16 ET

Belvedere Resources Limited: Private Placement to Raise Up to CAD $4 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2010) - Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere") announces that it is undertaking a private placement to raise C$ 4 million at C$ 0.15 per common share with no warrants attached for a maximum of 26.67 million shares. The Private Placement will be a Brokered Private Placement. The agent, London stockbrokers Ocean Equities Ltd., will undertake the engagement on a best efforts basis. Subject to the policies of the TSX Venture Exchange, a fee of 5% will be paid to Ocean Equities on the funding of the issue. Ocean Equities will be reimbursed for all of its reasonable costs, charges and other out of pocket expenses incurred in the Private Placement. The net proceeds will be applied to the general working capital of the Company and to develop the Hitura nickel mine and gold assets of the Company.

BELVEDERE RESOURCES LTD.

David Pym, CEO; Suite #404, Vancouver World Trade Centre, 999 Canada Place, Vancouver. BC. V6C 3E2, Canada

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this release.

Contact Information

  • Belvedere Resources Ltd.
    David Pym
    CEO
    +1-604-844-2838
    or
    Belvedere Resources Ltd.
    Toby Strauss
    COO
    +1-604-844-2838
    www.belvedere-resources.com