Brookemont Capital Inc.
TSX VENTURE : BKT

September 08, 2009 03:01 ET

Brookemont Capital Inc.: Lithium and Gold Claims Finalized

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2009) - Brookemont Capital Inc. (TSX VENTURE:BKT) (the "Company" or "Brookemont") is pleased to announce that it has closed the share exchange agreement dated August 20, 2009 with 0854508 B.C. Ltd. ("BC Co"), a private corporation incorporated pursuant to the laws of British Columbia, and the shareholders of BC Co (the "Shareholders"). Under the terms of the share exchange agreement, the Company purchased all of the issued and outstanding common shares in the capital of BC Co from the Shareholders in consideration for the Company issuing 5,000,000 common shares to the Shareholders. The Company also issued non-interest bearing promissory notes in the aggregate amount of $150,000 to the Shareholders, which promissory notes are due on demand.

Business of BC Co

BC Co is a private company and is engaged in the business of mineral exploration in Ontario and the Yukon. BC Co is the sole legal and beneficial owner of 96 mineral claims prospective for lithium covering an area of approximately 3,800 acres, located in Northern Ontario and for 93 load quartz mineral claims covering an area of approximately 4,836 acres, located in the Yukon bordering Underworld Resources.

Conrad Clemiss, President of Brookemont stated, "Brookemont has now transformed itself into a well diversified junior, with work programs anticipated to commence in 2009 on both the Lithium prospect and Yukon Gold prospect. The Company currently has approximately sixteen million shares outstanding."

Finder

The Company issued 482,142 common shares to one finder on the closing date in consideration for services with respect to the transaction. The finder is not a Non-Arm's Length Party and such common shares were issued pursuant to an exemption under applicable securities laws and are subject to a hold period that expires on January 5, 2010.

Stock Options

The Company has also granted, pursuant to its Rolling Stock Option Plan, 500,000 incentive stock options to directors, officers and consultants at an exercise price of $0.11 per share for five years. These shares are subject to a hold period expiring January 9, 2010.

On Behalf of the Board of Directors

Brookemont Capital Inc.

Conrad Clemiss, Chief Executive Officer and Director

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

Contact Information

  • Brookemont Capital Inc.
    Conrad Clemiss
    Chief Executive Officer and Director
    (604) 646-6906
    (604) 689-1733 (FAX)