Toronto, Ontario--(Newsfile Corp. - July 7, 2022) - BELGRAVIA HARTFORD CAPITAL INC. (CSE: BLGV) ("Belgravia Hartford", "Belgravia" or the "Company") provides a status update on its litigation with Zonetail Inc. (TSXV: ZONE).
Belgravia and Zonetail are currently engaged in litigation related to their prior commercial relationship. Payment of the debt owed to Belgravia by Zonetail under the promissory note (the "Loan"), which matured on November 1, 2019, in the amount of $481,000 including interest at 18% as of June 30, 2022, remains outstanding.
Principal: $325,000
Interest Rate: 18%
Interest Accrued: $156,000
Number of months outstanding: 32
Ms. Deena Siblock, Chief Operating Officer and Director of Belgravia, said, "Zonetail has paid one year of interest in accordance with the provisions of the Loan, however, Zonetail's legal action came only after formal written demand was issued for full repayment of the Loan. Board members of Belgravia remain steadfast in management's efforts to collect the Loan currently in default by Zonetail."
About Belgravia Hartford
Belgravia Hartford Capital Inc. ("Belgravia" or the "Company") is a publicly traded investment holding company listed on the Canadian Securities Exchange. Belgravia is focused on growing its assets and holdings and increasing its net asset value (NAV). Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. It takes a multi-sector investment approach with emphasis in the resources and commodities sector. Belgravia and its investments are considered high risk holdings and it may expose shareholders to significant volatility and losses.
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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 Hartford Capital Inc.
(250) 763-5533mazodi@blgv.ca
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