Brookemont Capital Inc.

August 31, 2009 03:01 ET

Brookemont Acquires Lithium and Gold Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2009) - Brookemont Capital Inc. (the "Company" or "Brookemont") (TSX VENTURE:BKT) is pleased to announce that it has received TSX Venture Exchange approval for a share exchange agreement with 0854508 B.C. Ltd. ("BC Co"), a private corporation incorporated pursuant to the laws of British Columbia, and the four shareholders of BC Co (the "Shareholders"). Under the terms of the share exchange agreement, the Company has agreed to purchase 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 Shareholder. The Company also agreed to issue promissory notes in the aggregate amount of $150,000 to the Shareholders, which promissory notes are due on demand and bear no interest. A finders' fee is also payable in connection with this transaction.

Conrad Clemiss, Brookemont's president stated "This is a significant acquisition for Brookemont. This now gives the Company two new projects that individually could add significant value. Lithium and gold are two commodities that have garnered a considerable amount of market attention recently and we look forward to starting work on both of these projects right away."

The Company will be conducting a non-brokered private placement of up to 5,000,000 units at $0.10 per unit, for gross proceeds of $500 000. Each unit will consist of one share and one transferable share purchase warrant for a term of two years with an exercise price of $0.15. A finders fee may be payable in accordance with TSX Venture Exchange rules.

The Company has also granted, pursuant to its 2008 Rolling Stock Option Plan, 500,000 incentive stock options to directors, officers and consultants at an exercise price of $0.10 per share for five years. These shares are subject to a hold period expiring January 1, 2010.

On Behalf of the Board of Directors

Brookemont Capital Inc.

Conrad Clemiss, Chief Executive Officer and Director

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company such as the statement that (i) the parties have agreed to close the share exchange agreement on or before the date specified in this release, and (ii) the Company intends to issue shares to a finder upon the closing of the agreement. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the share exchange agreement for any reason. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.

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)