BELMONT CLOSES THIRD & FINAL TRANCHE OF PRIVATE PLACEMENT
Belmont Resources Inc. (“BEA”) (the “Company”) has closed the third tranche of the private placement as per the TSX Venture Exchange (the “Exchange”) bulletin dated October 1, 2009.
The Company has issued an additional 3,000,000 units at a price of $0.02 per unit for gross proceeds of $60,000. The units consist of one share and one share purchase warrant exercisable at $0.05 per share until October 2, 2010 and $0.10 per share after October 2, 2010 until October 2, 2011. The shares and warrants are subject to a four-month hold period expiring February 2, 2010.
The Company intends to utilize the proceeds of the private placement for maintenance of its Uranium City area –Saskatchewan properties, due diligence on further property acquisitions and general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
“GARY MUSIL”
Gary Musil,
CFO/Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.