Belmont Resources (TSE:BEA) has released an update.
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Belmont Resources Ltd. has successfully completed a financing round, raising $368,000 without issuing warrants, and plans to allocate the funds primarily for exploration, office, and administration expenses, with flexibility for reallocation by the board. A notable investment was made by an insider, which is compliant with market regulations, as it does not exceed 25% of the company’s market capitalization. In other news, the company opted not to proceed with a previously announced convertible loan agreement.
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