On April 30, 2010, Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) of Vancouver, British Columbia decides to make private placement to raise C$ 4 million at C$ 0.15 per common share with no warrants attached for a maximum of 26.67 million shares.

The press release is quoted as saying:

"The agent, London stockbrokers Ocean Equities Ltd., will undertake the engagement on a best efforts basis. Subject to the policies of the TSX Venture Exchange, a fee of 5% will be paid to Ocean Equities on the funding of the issue."

Source: http://www.belvedere-resources.com/assets/files/newsapril302010.pdf ^[1]