ZONE ZoneTail Inc

BELGRAVIA CAPITAL INTERNATIONAL INC. (CSE: BLGV) (OTCQB: BLGVF) (“Belgravia” or the “Company”) is pleased to provide the following corporate update on a number of key strategic initiatives as well as forward progress on recently announced projects:

Belgravia holds various assets including, but not limited to, publicly-traded investments, private holdings, a mining/water royalty and certain fixed income instruments. The focus in 2018 was generally to be a passive-minority investor in various industries and to provide management services which generated income to Belgravia. The current focus in 2019 is to acquire cash flow positive operating assets in either the cannabis, gaming or pharmaceutical sectors. The Company intends to dedicate its cash and other resources to the growth and development of its fully-owned operating subsidiary. Belgravia believes this is the best use of the Company’s capital, as it provides the greatest upside potential for shareholder returns.

During Q1 of 2019 Belgravia reviewed dozens of opportunities for an acquisition. Currently the Company is actively doing its due diligence with specific targets to ensure this creates shareholder value. With a current positive working capital position, Belgravia is able to execute this plan without any requirements for additional capital at this time. The terms will be announced once a definitive agreement is in place.

Belgravia Subsidiary:

Belgravia Dermatology

A dermatology research subsidiary of Belgravia has converted into a 7.9% ownership of GPCR Pharmaceuticals, Inc., a private company focused on cannabinoid formulations for the targeted delivery of dermatological pharmaceuticals. GPCR’s mandate is to concentrate on prescription-based pharmaceuticals which will require the completion of standard-phased development for ethic-based drugs.

Belgravia Holdings:

Reciprocity Corp.

As previously announced on September 20, 2018, Belgravia sought to enter the gaming industry. The Company has since acquired 779,590 common shares (or 3.6% ownership) of Reciprocity Corp., a premier global e-Sports organization.

Weekend Unlimited (CSE:POT)

In 2018, Belgravia invested in R&D Pharma, a lifestyle cannabis company. The Company’s ownership has converted into 7,682,795 common shares and 2,195,084 preferred shares of Weekend Unlimited (CSE: POT) (“Weekend”). The preferred shares of Weekend are convertible into common shares at $0.35 per share for two years. In addition to its equity interest in Weekend, Belgravia is owed $63,000 by R&D Pharma which we expect and intend to recover.

Zonetail Inc. (TSXV: ZONE)

Belgravia owns 4,749,999 shares (or 7% ownership) and 1,905,555 warrants of Zonetail Inc. In addition, Belgravia has to date received management services fees of $325,000 and is owed a further $325,000 under a short-term bridge loan agreement with Zonetail. A consultant of Belgravia which provided key strategic business development initiatives is owed $70,000.

Tartisan (CSE: TN)

In 2018 Belgravia commenced an action against Tartisan and its CEO, Mark Appleby. On April 24, 2019 Mr. Appleby was in discoveries. Representing Belgravia was Mr. Joe Groia, of Groia & Company. Belgravia is seeking monetary damages of $750,000 in the law suit together with other relief. Belgravia is very confident in the final outcome of this law suit.

A full list of the Company’s holdings can be found in the year end financials and Q1 financials which will be announced prior to May 30th.

Water and Mining Royalty

Belgravia expects to provide an update in Q2 on the status of the current mining royalty as well as the efforts to sell the water from its water royalty interest, both located in New Mexico, USA. As a result of existing confidentiality terms Belgravia is prevented from providing fuller details of the royalties except to say the Company has engaged a third party to sell its water rights. Belgravia obtained both the mining and water royalties in connection with its sale of IC Potash (USA) (which owned the Ochoa Project) to its former partner Cartesian Capital of New York. Water is in great demand by the fracturing business of oil and gas companies in east New Mexico and West Texas. Water wells WS-01 and WS-02 have been drilled and are available for use.

Warrant Amendment

Belgravia intends to modify the terms of certain share purchase warrants set to expire May 10, 2019 (the “Warrants”). Of this series, 121,430,000 are held by non-insiders and are exercisable at $0.06. In accordance with the policies of the Canadian Securities Exchange, the terms of only 9.37% of the warrants held by insiders are being amended. The date of expiration of the Warrants will be extended to July 10, 2019.

The expiration of all Warrants will be accelerated to 30 days if the share price reaches or exceeds $0.08 for ten consecutive trading days (“Acceleration Trigger”), with such 30-day period starting seven-days after the Acceleration Trigger. All other terms of the Warrants remain unchanged.

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 provide 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 & CEOBelgravia Capital International Inc.(416) 779-3268mazodi@blgv.ca