As previously disclosed, the net proceeds from the private placement will be applied to the general working capital of the Company and to develop mineral assets. The private placement common shares will be issued subject to a minimum four-month hold period from the date of issuance. The private placement is subject to acceptance and approval by the
As previously disclosed, the directors of Belvedere are proposing that after the private placement Belvedere consolidate its issued and outstanding common shares at a rate of nine pre-consolidation shares to one post-consolidation share and intend to convene a special meeting of shareholders of Belvedere for purposes of considering a resolution to approve such proposed consolidation. The directors intend that such special meeting will be convened and held by the end of February, 2014, and that, if the consolidation is approved, the board of directors currently intends to implement the consolidation as soon as practicable following the approval of the consolidation by the shareholders and the
BELVEDERE RESOURCES LTD. David Pym, CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Belvedere Resources Ltd. David PymCEO +1-604-844-2838 Belvedere Resources Ltd. Steven CuthillCFO +1-604-513-0007 www.belvedere-resources.com Source: Belvedere Resources Ltd.