TORONTO, July 18, 2018 (GLOBE NEWSWIRE) -- 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 & CEO Belgravia Capital International Inc. (416) 779-3268 mazodi@blgv.ca
