BeMetals Corp. is pleased to announce that it has entered into an agreement with a syndicate of agents led by Haywood Securities Inc. (together, the “Agents”), to sell, on a commercially reasonable efforts private placement basis, up to 15.0 million common shares (“Shares”) at a price of C$0.40 per Share (the “Offering Price”), for aggregate gross proceeds of up to C$6,000,000 (the “Offering”).
The Company has granted the Agents an option (the “Agents’ Option”), exercisable in whole or in part by the Agents, to sell an additional C$900,000 of Shares at the Offering Price.
The Company plans to use the net proceeds from the Offering for the exploration and advancement of the Company’s projects in Idaho and Zambia, and for general corporate purposes, including the continued review of potential gold project acquisitions. The Offering is scheduled to close on or about August 13, 2020 the (“Closing Date”), and is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The common shares issued in the Offering will be subject to a statutory hold period of four months and one day following the Closing Date.
The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About BeMetals Corp.
BeMetals is a new precious and base metals exploration and development company focused on becoming a leading diversified metal producer through the acquisition of quality exploration, development and potentially production stage projects. In addition, the Company is progressing both its advanced high-grade, zinc-silver-gold-copper polymetallic underground exploration at the South Mountain Project in Idaho, and its tier-one targeted, Pangeni Copper Exploration Project in Zambia. BeMetals’ growth strategy is led by our strong board and management, founders of the Company and significant shareholders, who have an extensive proven record of delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world.
On Behalf of BeMetals Corp.
“John Wilton”
John Wilton
President, CEO and Director
For further information about BeMetals please visit our website at www.bemetalscorp.com and sign-up to our email list to receive timely updates, or contact:
Derek Iwanaka
Vice President, Investor Relations & Corporate Development
Telephone: 604-609-6141
Email: diwanaka@bemetalscorp.com