.png)
Wed March 24, 2010.
Bellhaven Convertible Debenture Holders Convert all Debt
Panama City, Panamá – March 24, 2010. Bellhaven Copper & Gold, Inc. (TSXVenture: BHV) (“Bellhaven” or the “Company”) is pleased to announce that it has reached agreements with the holders of its 10% convertible debentures having a combined principal amount of C$1,044,305.31 (the “Debentures”) to convert the debentures into units of Bellhaven priced at $0.15 per unit (the “Units”), with each such Unit being comprised of one share and one share purchase warrant entitling the holder to acquire a further common share of Bellhaven at a price of $0.25 per share for a term of 2 years.
In connection with the conversion of the Debentures into Units, which contain the exact terms as the Units offered in the Company’s current financing, the Debenture holders have agreed to waive all interest and extension fees due them as a result of the extension of the term of the Debentures, which were originally due October 29, 2009.
Bellhaven has also reached agreement with certain arms length parties to settle indebtedness owing for services rendered by the issuance of a total of 410,000 shares of Bellhaven having a deemed price of $0.15 per share.
The issuance of the Units on conversion of the Debentures and the issuance of the shares in settlement of the indebtedness referred to in this release remains subject to acceptance of the TSX Venture Exchange.
About Bellhaven:
Bellhaven Copper & Gold Inc., is a Canadian-listed (TSX-V: BHV), Panama-based mineral exploration company, exploring for gold and copper in Panama and Colombia.
The Company’s principal assets include one mining (exploitation) concession, three exploration concessions, and ten exploration concession applications on copper and gold prospects in Panama, totaling 117,613 hectares, the La Ventura prospect consisting of three exploration concession blocks and 6,400 hectares in the San Lucas gold belt in northeasternColombia, and a 100% stake in the Cerro Quema gold-(copper) project (high-sulfidation epithermal deposit) on the Azuero Peninsula in Panama. The Company announced a letter of intent (LOI) with Pershimco Resources (TSX-V: PRO) on January 4th, 2010, to develop Cerro Quema, whereby Pershimo can earn up to a 75% equity interest in the project, plus an option to purchase an additional 10%.
On behalf of the board of directors,
Julio C. Benedetti, President, CEO
BELLHAVEN COPPER & GOLD, INC.
Corporate Contact: Investor Relations Contact:
Julio Benedetti Patrick Abraham
Int’l No: +507-226-3967 Int’l No: +507-340-9500
For more information, please visit the Company’s web site at www.bellhavencg.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Bellhaven has also reached agreement with certain arms length parties to settle indebtedness owing for services rendered by the issuance of a total of 410,000 shares of Bellhaven having a deemed price of $0.15 per share.
The issuance of the Units on conversion of the Debentures and the issuance of the shares in settlement of the indebtedness referred to in this release remains subject to acceptance of the TSX Venture Exchange.
About Bellhaven:
Bellhaven Copper & Gold Inc., is a Canadian-listed (TSX-V: BHV), Panama-based mineral exploration company, exploring for gold and copper in Panama and Colombia.
The Company’s principal assets include one mining (exploitation) concession, three exploration concessions, and ten exploration concession applications on copper and gold prospects in Panama, totaling 117,613 hectares, the La Ventura prospect consisting of three exploration concession blocks and 6,400 hectares in the San Lucas gold belt in northeasternColombia, and a 100% stake in the Cerro Quema gold-(copper) project (high-sulfidation epithermal deposit) on the Azuero Peninsula in Panama. The Company announced a letter of intent (LOI) with Pershimco Resources (TSX-V: PRO) on January 4th, 2010, to develop Cerro Quema, whereby Pershimo can earn up to a 75% equity interest in the project, plus an option to purchase an additional 10%.
On behalf of the board of directors,
Julio C. Benedetti, President, CEO
BELLHAVEN COPPER & GOLD, INC.
Corporate Contact: Investor Relations Contact:
Julio Benedetti Patrick Abraham
Int’l No: +507-226-3967 Int’l No: +507-340-9500
For more information, please visit the Company’s web site at www.bellhavencg.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
