BELMONT ENHANCES USA MARKET PROFILE AND TRADING WITH DTC ELIGIBILITY APPROVAL ON OTC & EXHIBITS AT MINES & MONEY-NEW YORK
Vancouver, B.C. Canada, April 28, 2017 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible - CUSIP 080499403); (“Belmont”, or the “Company”).
The Depository Trust Company is one of the world’s largest securities depositories. While there is no requirement that any security be held at DTC to trade, many brokerage firms and issuers want to take advantage of the efficiencies and cost benefits that DTC offers. In contrast many stock exchanges require DTC eligibility prior to listing of a security.
The DTC accepts deposits of securities from its participants only, which are usually clearing firms. DTC helps boost efficiencies, reduce risk and lower costs for participants, issuers and investors throughout the cycle of a security. The benefits begin with the eligibility/underwriting process, which enables the initial distribution of a security offering to be made electronically to financial institutions that are DTC participants and ultimately to investors. Once a security becomes eligible, DTC, through its nominee Cede & Co., is the registered holder of the securities, routinely managing the electronic, book-entry transfers of interests in securities among participants. These participants are often holding and transferring interests in the securities at the direction of their customers, including ultimate beneficial owners.
This electronic method of clearing securities accelerates the receipt of stock and cash, and thus streamlines the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
“This approval will broaden Belmont’s appeal to U.S. investors and will allow brokers and professional advisers previously unable or unwilling to follow or recommend the Company’s stock, to become more familiar with our corporate story at this pivotal stage of our Company,” stated Gary Musil, Chief Financial Officer.
Mines & Money - New York City
We would like to invite you to meet the Belmont Resources Inc. and Zimtu Capital team at the Zimtu Capital booth from 9:00 - 6:00 p.m. on Wednesday May 3, 2017 & Thursday May 4, 2017. Register at http://newyork.minesandmoney.com or twitter @MinesAndMoney #MMNY17.
About Belmont Resources Inc.
On March 30, 2016; the Company acquired sixteen placer (16) mining claims, representing 1036 hectares (2,560 acres) in Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley, Nevada-U.S.A. The Company believes the property to be highly prospective to host lithium.
On July 11, 2016; the Company reported it has arranged the staking of 213 x 20 acre additional placer mineral claims totaling approx. 1724 hectares (4,260 acres), adjoining the Kibby 16, increasing the total Kibby Basin land position (the “Property”) to 2760 hectares (6,820 acres).
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake - 11,109 ha) in the Uranium City District in Northern Saskatchewan, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control. Forward looking statements in this news release include statements about the possible raising of capital and exploration of our properties. Actual events or results could differ materially from the Companies forward-looking statements and expectations. These risks and uncertainties include, among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing may not be fulfilled and we may not be able to organize and carry out an exploration program in 2016; and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.