TORONTO, Oct. 24, 2018 (GLOBE NEWSWIRE) -- BELGRAVIA CAPITAL INTERNATIONAL INC. (CSE: BLGV) (OTCQB: BLGVF) (“Belgravia” or the “Company”) reports, pursuant to the terms of a normal course issuer bid (“NCIB”) announced October 19, 2018, it has purchased for cancellation 9,562,140 of its common shares, representing approximately 2.3% of its then current issued and outstanding common share float.
Mr. Mehdi Azodi, President and CEO, stated, “As we are continually monitoring the market as well as looking for ways to protect, and enhance, each shareholder’s investment, we identified the NCIB as a reasoned and pragmatic step to increasing shareholder value. This is due to the fact that the reduction of the issued and outstanding capital of the Company inherently increases each shareholder’s interest in the Company.”
The NCIB remains open. Any and all further purchases will proceed only when and if the Company considers it advisable taking into consideration quantity and timing of purchases and the price at which the shares are purchased which is dependent upon, among other things, future market conditions and potential alternative uses for the Company's cash resources.
About Belgravia
Belgravia Capital International Inc. is focused on three core business divisions: Incubator, Investments, and Royalty & Management Services. The three divisions of Belgravia are high risk business ventures and expose shareholders to financial risks. 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 expansion on a selective basis.
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