BELGRAVIA CAPITAL INTERNATIONAL INC. (CSE:BLGV) (OTCQB:BLGVF)
(“Belgravia” or the “Company”) is pleased to provide a corporate
update in respect of corporate activities.
Investments Division Update:
Belgravia holds seventeen investments in
thirteen public and four private corporations. Updates
are provided directly below for five core holdings.
Tartisan Nickel Corp. (CSE:TN):
Belgravia advises that it commenced a lawsuit
against Tartisan Nickel Corp., a company in which Belgravia holds
5,012,000 common shares, and D. Mark Appleby. In the lawsuit,
Belgravia claims for damages in the amount of $750,000 for
negligent misrepresentation and breach of contract. The
alleged misrepresentations involve representations made by Mr.
Appleby to Belgravia while he was seeking to have Belgravia invest
in Tartisan. Belgravia invested over $600,000 in Tartisan in
reliance upon these misrepresentations. Belgravia also
entered into a management services agreement with Tartisan (the
“MSA”) to provide services and for which Tartisan was required to
pay Belgravia amounts totalling $150,000. Tartisan paid only
$50,000 of this amount in breach of the MSA.
Tartisan has not yet responded to the Statement
of Claim and if they continue to ignore it, Belgravia will take the
appropriate action to get a default judgment.
R&D Pharma Corp.:
As announced on May 30, 2018, Belgravia has
acquired 10.03 % of the outstanding shares of R&D Pharma Corp.
(“R&D”), a Canadian corporation developing a vertically
integrated medicinal cannabis business in Jamaica. R&D is
one of only three medical cannabis cultivation companies on the
island, which has a full Tier 3 Licence. R&D is rapidly
building its cultivation facilities and establishing international
distribution relationships. Belgravia is providing the
company with business advisory services.
Zonetail Inc.:
Belgravia has acquired 3,066,666 shares of
Zonetail Inc., representing approximately 5 % of the outstanding
common shares. Zonetail is the world's first free mobile app
and platform, custom branded to hotels, which connects guests to
the full range of hotel services and businesses in the surrounding
neighbourhood. Zonetail has closed its previously
announced brokered private placement of 11,130,092 subscription
receipts of for gross proceeds of $2,003,416.56 pursuant
to an Agency Agreement among the Corporation, Zonetail, Gravitas
Securities Inc. acting as co-lead agent with Canaccord Genuity
Corp., and with Beacon Securities Limited. Belgravia is
providing advisory services to Zonetail in respect corporate
governance and business development.
Blackrock Gold Corp. (TSX-V:BRC):
Belgravia has acquired 5,280,000 shares of
Blackrock Gold Corp. representing approximately 14.3 % of the
outstanding common shares. The company has three exploration
projects. Two projects are located in British Columbia and
one in Nevada.
Nexus Gold Corp. (TSX-V:NXS):
Belgravia has acquired 2,807,000 shares of Nexus
Gold Corp. representing approximately 7% of the
company’s. Nexus Gold is operating three gold
exploration projects in Burkina Faso, West Africa.
Royalty & Management Services Division:
Year-to-date Belgravia has been awarded
management service contracts with a value of $1,290,000.
These services are all in respect to business strategy, governance
and corporate personnel.
About Belgravia
Belgravia Capital International Inc. is focused
on three core business divisions: Incubator, Investments, and
Royalty & Management Services. The Incubator division provides
capital to support the development of early stage companies in the
Biotech/Healthcare, Technology, Resources and Medical sectors.
Belgravia Holdings, the Investments division, invests in various
private and public companies with a focus on value. Belgravia
Royalty & Management Services has a royalty and fee income
model. Further, the cash and investment asset base provides capital
to support international expansion on a selective basis.
For more information, please visit
www.belgraviacapital.ca
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 & CEOBelgravia
Capital International Inc.(416) 779-3268 mazodi@blgv.ca
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