Toronto, Ontario--(Newsfile Corp. - August 29, 2023) - BELGRAVIA HARTFORD CAPITAL INC. (CSE: BLGV) ("Belgravia Hartford", "Belgravia" or the "Company") is pleased to announce that it acquired, 7,358,211 common shares ("Common Shares") of Nexus Gold Corp. to settle an outstanding debt owed to Belgravia by Nexus Gold Corp. totaling $367,910 (the "Settlement Shares") at a deemed price of $0.05 per Common Share.
As a result of the acquisition, Belgravia will own and exercise control and direction over an aggregate of 7,358,211 Shares, representing approximately 13.00% of the issued and outstanding Common Shares of Nexus Gold. The Settlement Shares were acquired for investment purposes. Belgravia believes that the Common Shares of Nexus Gold are undervalued and represent an attractive investment opportunity.
The Company also announces that Pennsylvania Hawthorne LP, a company in which it holds a significant ownership, acquired 7,358,211 Shares of Nexus Gold at a deemed price of $0.05 per Common Share to settle an outstanding debt owned to Pennsylvania Hawthorne by Nexus Gold totaling $367,910. As a result, Pennsylvania Hawthorne will own and exercise control and direction over 7,358,211 Common Shares representing approximately 13.00% of the issued and outstanding Common Shares of Nexus Gold.
Mehdi Azodi, President & CEO, said, "Nexus Gold is focused on further advancing it's gold projects in Africa. The current macro market for gold and investments from BRICS into Africa makes this position appealing going into the final quarter of 2023 and 2024."
The Settlement Shares to be issued to Belgravia and Pennsylvania Hawthorne are subject to TSX Venture Exchange approval, and all Common Shares will be subject to a four month hold period.
An early warning report will be filed with the applicable securities regulatory authority in each jurisdiction where Belgravia Hartford is a reporting issuer and will be available under Belgravia Hartford's profile on SEDAR at www.sedarplus.ca. Belgravia Hartford's head office is located at #3-3185 Via Centrale, Kelowna, BC V1V 2A7. For further information or to obtain copy of the early warning report please call (250) 763-5533.
About Belgravia Hartford
Belgravia Hartford Capital Inc. ("Belgravia" or the "Company") is a publicly traded investment holding company listed on the Canadian Securities Exchange. Belgravia is focused on growing its assets and holdings and increasing its net asset value (NAV). Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. It takes a multi-sector investment approach with emphasis in the resources and commodities sector. Belgravia and its investments are considered high risk holdings and it may expose shareholders to significant volatility and losses.
For more information, please visit www.belgraviahartford.com.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, statements regarding planned investment activities & related returns, the timing for completion of research and development activities, the potential value of royalties, and other statements that are not historical facts. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, changes in market trends, the completion, results and timing of research undertaken by the Company, risks associated with resource assets, the impact of general economic conditions, commodity prices, industry conditions, dependence upon regulatory, environmental, and governmental approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
For More Information, Please Contact:
Mehdi Azodi, President & CEO
Belgravia Hartford Capital Inc.
(416) 779-3268
mazodi@blgv.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178919
