Belvedere Announces Board and Management Changes, and Grant of Stock Options

VANCOUVER, British Columbia, June 05, 2018 (GLOBE NEWSWIRE) -- Belvedere Resources Ltd. (TSX-V:BEL) (the “Company”) is pleased to announce the appointment of Rufus Round as Chief Executive Officer and a Director of the Company, and the appointment of Alice Reimer as a Director of the Company.

Mr. Brian Hinchcliffe will remain as Executive Chairman of the Company. Mr. Steve Cuthill has stepped down from the Board, but will remain as Chief Financial Officer and Corporate Secretary of the Company.

Brian Hinchcliffe, Executive Chairman said, “We are pleased to announce the appointments of Rufus Round and Alice Reimer and the experience they bring to the Company as it examines what financial and strategic alternatives may be available to it.”

About Rufus Round

Rufus Round is a former investment manager with over twenty years of experience in multi-asset investment.  He most recently managed funds at award winning London-based hedge fund, Cheyne Capital. Prior to that, he was a partner at niche arbitrage specialist Boston & Alexander, also based in London. Convertible bonds, fixed income, credit, equities and their derivative instruments have all featured prominently throughout his career, capped with experience and investments in various technologies.

About Alice Reimer

Alice Reimer is a successful tech entrepreneur and dedicated community mentor and leader. She co-founded Calgary-based Evoco, leading the innovative software firm from initial concept through to a 2012 acquisition. Evoco's technology became the standard construction management system for global retailers including Home Depot, Walmart and Luxottica. Most recently, Alice was the CEO of Chaordix, a pioneering software leader in the crowdsourcing and open innovation space, with global clients including LEGO, Procter & Gamble, KPMG and IBM.

Alice was the recipient of PROFIT’s W100 designation as one of Canada’s Top Female Entrepreneurs and was named one of Alberta's 50 Most Influential People for 2013. She is on the Board of the A100 and is the Board Chair for Startup Calgary.

Grant of Stock Options

The Company also announces the grant of incentive stock options to acquire a total of 1,567,295 common shares (“Common Shares”) of the Company at an exercise price of $0.95 per share, such options to vest as to one-half on June 5, 2019 and one-half on June 5, 2020. The options expire five years from the date of grant. Options to acquire 1,422,295 Common Shares were granted to directors and officers of the Company and options to acquire 145,000 Common Shares were granted to employees and consultants of the Company

BELVEDERE RESOURCES LTD.

Brian Hinchcliffe, Executive Chairman
c/o 82 Richmond Street East, Suite 200, Toronto, ON, M5C 1P1
Tel. +1 (914) 815 2773
bhinch3@gmail.com
www.belvedere-resources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the ability of the Company to identify and complete strategic actions or else restructure itself. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company’s most recent management's discussion and analysis, a copy of which is filed on SEDAR at www.SEDAR.com, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.