Private Placement Completed
Posted on Friday November 11, 2005Belvedere Resources Ltd (the “Company”) has received regulatory approval for its recently announced private placement. The Company has issued a total of 833,333 units at a price of $0.60 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one share for a period of 12 months at a price of 75 cents per share. The shares issued are subject to a four month hold period.
The net proceeds of C$ 475,000 from the private placement will be applied to general working capital.
BELVEDERE RESOURCES LTD. Andrew Aylwin, President
For further information, please contact:
Andrew Aylwin: 011-44-7779-128125
Steve Cuthill: 1-604-408-0550
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
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