Private Placement
Posted on Wednesday May 21, 2003Belvedere Resources Ltd. (the “Company”) is pleased to announce that it has received regulatory acceptance and has issued a total of 1,806,000 common shares at a price of $0.50 per share to Middlemarch Partners Ltd. The proceeds from the private placement will be applied to general working capital. The Company will pay Middlemarch Partners Limited a fee of $63,210 in respect of the private placement. The shares issued are subject to a four month hold period expiring September 21, 2003 pursuant to the Securities Act (British Columbia) and a four month hold period expiring September 20, 2003 pursuant to the policies of the TSX Venture Exchange.
BELVEDERE RESOURCES LTD.
Griffin Philip
Secretary
For further information, please contact:
Andrew Aylwin: 011-44-207-630-0263
Griffin Philip: 604-408-0550
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein
Private Placement Belvedere Announces the Start of its Summer Drilling Program