Belvedere Resources Ltd.
TSX VENTURE : BEL

Belvedere Resources Ltd.

February 10, 2011 20:14 ET

Belvedere Issues Shares Under Convertible Loan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2011) - Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere" or the "Company") announces that it gave notice to prepay the full amount owing under the convertible loan agreement that was entered into between Belvedere and Investec Bank plc ("Investec") on August 18, 2010 which provided Belvedere with a convertible loan facility of up to €2 million (the "Loan"). The Loan was disclosed by Belvedere pursuant to news releases disseminated on July 12, 2010 and August 18, 2010.

Upon the receipt of the repayment notice, Investec opted to convert the full outstanding principal amount of €2 million into 19,094,286 common shares of Belvedere as allowed for in the terms of the loan agreement.

The Loan will be converted with effect February 11, 2011.

BELVEDERE RESOURCES LTD.

David Pym, CEO; Suite #404, Vancouver World Trade Centre, 999 Canada Place, Vancouver, B.C. 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 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