- Investment company Belgravia Hartford Capital (BLGV) has provided a corporate update regarding developments in its investment portfolio
- The company has begun financing of Chatsworth Ventures, a resource exploration company which plans to become publicly traded
- Belgravia Hartford has also acquired a 10 per cent interest in TSXV-listed miner Imperial Mining Group (IPG) and is maintaining its 11 per cent interest in Blackrock Gold (BRC)
- The company recently issued a claim against TSXV-listed Zonetail (ZONE), seeking over C$2.85 million in damages
- Belgravia Hartford Capital (BLGV) remains unchanged and is currently trading at 2.5 cents per share
Investment company Belgravia Hartford Capital (BLGV) has provided a corporate update regarding developments in its investment portfolio.
The company has begun financing of Chatsworth Ventures, which is currently a private resource exploration company. Chatsworth plans to eventually become a publicly traded company, under the name Autumn Resources.
At the moment, Belgravia Hartford owns 50 per cent of Chatsworth, and plans to fund most financing requirements until the public financing round is announced. Greater detail regarding the company’s structure, ownership, and assets will become available in 2020’s fourth quarter.
However, Belgravia has already nominated Alex Klenman, John Stubbs, Nick Houghton, and Kevin Shum as Board members. Chatsworth will hold its Annual General Meeting on October 9, 2020.
Belgravia has made investments in a number of companies which are listed on the TSX Venture Exchange. A recent addition to this portfolio is Imperial Mining Group (IPG), which Belgravia acquired ten per cent of shares in during September.
Since then, Belgravia has added to its holdings through several investments, in light of the current political landscape and demand outlook for rare earths, such as scandium.
The company continues to own over 11 per cent of securities in TSXV-listed miner, Blackrock Gold (BRC). Belgravia has stated that it remains confident in Blackrock’s leadership, and ability to execute plans for the Tonopah and Silver Cloud projects.
Some issues have been presented by TSXV-listed Zonetail (ZONE), a company which Belgravia issued a claim against on September 29, 2020. The claim was seeking over $2.85 million in damages, and accused Zonetail of defamation, breach of contract, and tortious interference.
Zonetail has previously promised to repay its debt of $325,000 cash to Belgravia, but has yet to do so. As such, Belgravia is seeking full payment of the promissory note, with an accrued interest of 18 per cent.
Belgravia Hartford’s President and CEO, Mehdi Azodi, commented on the company’s performance in what continues to be a historic year.
“2020 has demonstrated to be a year of challenges, however, some auspicious opportunities have also presented themselves.
“Ending the year and going into 2021, we have the luxury of liquidity; to be selective on the projects and sectors we believe can increase our NAV and enhance shareholder value,” he said.
Belgravia Hartford Capital (BLGV) remains unchanged and is trading at 2.5 cents per share, as of 10:59am EDT.