viewBelgravia Capital International Inc

Belgravia Hartford Capital acquires $400K of Blackrock Gold securities

The investment holding company purchased 2 million units at a price of $0.20 per unit

Belgravia Capital International Inc - Blackrock Gold Corp securities acquired by Belgravia Hartford Capital Inc worth $400,000 pursuant to a private placement
Belgravia Hartfold now has a 17.8% stake in Blackrock Gold

Belgravia Hartford Capital Inc (CSE:BLGV) (OTCMKTS:BLGVF) announced Friday it has acquired $400,000 worth of Blackrock Gold Corp (CVE:BRC) securities pursuant to a private placement. 

The investment holding company purchased 2 million units at a price of $0.20 per unit. 

Each unit consists of one common share and one-half common share purchase warrant of Blackrock Gold. And each whole warrant entitles the holder to acquire one additional common share until January 30, 2022 at an exercise price of $0.30 per share.

READ: Blackrock Gold keen to explore further at Silver Cloud as it announces C$1.5M placing

The common shares acquired by Belgravia Hartford represent approximately 3% of the issued and outstanding common shares of Blackrock Gold.

“Belgravia is confident in the leadership at Blackrock Gold and further due diligence supports the advancement of the Silver Cloud project in Nevada,” said Belgravia CEO Mehdi Azodi and board Chairman John Stubbs in a statement. 

“The recent positive drilling results in Nevada by Blackrock Gold would underscore the case for additional work to be undertaken, to further develop the Silver Cloud project.”

Prior to this acquisition, Belgravia Hartford directly owned 9,780,000 common shares of Blackrock Gold and 2,640,000 warrants for a total deemed beneficial ownership of 12,420,000 common shares of Blackrock Gold, representing 18.9% of the deemed outstanding shares. 

After the completion of the private placement, Belgravia Hartford directly owns 11,780,000 common shares representing approximately 17.8% of the issued and outstanding common shares, together with warrants to acquire an aggregate of 3,640,000 common shares of Blackrock Gold. 

If Belgravia Hartford were to exercise these convertible securities, the company would own 15,420,000 common shares of Blackrock Gold, representing about 22.2% of the issued and outstanding common shares deemed outstanding as of such date. This represents a decrease of 2% since its previous Early Warning Report filed on August 19, 2019 of a beneficial shareholding of 24.2%.

The common shares were acquired for investment purposes. Belgravia Hartford said it may, from time to time, depending on the market and other conditions, increase or decrease its beneficial ownership, control or direction over securities of Blackrock Gold through market transactions, private agreements or otherwise.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Belgravia Capital International Inc

Price: 0.025 CAD

Market: CSE
Market Cap: $10.04 m

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