Fri March 26, 2010.
Bellhaven closes non-brokered financing
Company Reverting Back to Its Exploration Roots with a Goal to Deliver a Flagship Project over the Near-term. Lead Investor Sees Strong Upside in Bellhaven; Helps to Re-Shape the Company
Panama City, Panamá March 26, 2010. Bellhaven Copper & Gold Inc. (the “Company” or “Bellhaven”) (TSX-V: BHV) is pleased to announce the closing of a non-brokered financing whereby the Company raised C$1,343,774.55 through the issuance of 8,958,497 units. Each unit consists of 1 common share and 1 warrant to purchase an additional common share for C$0.25 over a 24-month period from the date of issuance. The Securities issued will be subject to a four month hold period from the date of issuance.
“Resource Venture Partners, LP, a successful natural resources fund based in the United States, is the lead investor for this private placement. They share our vision for the new Bellhaven, and we look forward to their involvement with the roll-out of our new strategy.”
Dr. Paul Zweng, Managing Member of Resource Venture Advisors, LCC, the general partner to Resource Venture Partners, LP, commented as follows: “Resource Venture Partners, LP (“RVP”), is pleased to become a shareholder of Bellhaven Copper & Gold. RVP is working with Bellhaven to undertake the necessary actions to transform the Company into a highly successful venture. These actions include: (1) delivering an attractive flagship exploration project, (2) attracting first-rate and highly motivated people into both the exploration and senior management ranks, and (3) disseminating company information and updates in a persistent manner to the investment community. It is anticipated that the flagship project will be delivered either through new exploration on recently acquired gold properties in Colombia, renewed exploration on more mature gold properties in Panama, or through future acquisitions/joint ventures. RVP is currently drawing upon its extensive network of contacts on behalf of Bellhaven to attract talented individuals into the Company. Finally, RVP is advising Bellhaven on a new investor-relations strategy so that the capital markets can more readily understand the Company’s investment merits. RVP believes that these efforts will lead to the creation of real wealth which, if executed successfully, should accrue to the benefit of Bellhaven’s shareholders.”
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.
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