BEMETALS UPSIZES SHARE OFFER TO $6.25M

(BMET.V) Apr. 18, 2019 – BeMetals Corp. has announced that due to excess demand, the company has increased the size of its previously announced non-brokered private placement offering from $5 million to $6.25 million.

BeMetals intends to issue up to 25 million units of the company at a price of $0.25 per unit for aggregate gross proceeds of up to $6.25 million. Each unit will consist of one common share in the capital of the company and one-quarter of a share-purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at an exercise price of $0.35 per common share for two years from the date of issuance.

If the closing price of the common shares of BeMetals quoted on the TSX Venture Exchange is greater than $0.70 for 15 consecutive trading days, the company may accelerate the expiry date of the warrants to the 30th day after the date on which BeMetals provides notice to the warrant holders of such acceleration.

Net proceeds of the financing will be used to fund the company’s planned underground drilling of the advanced stage, high-grade, South Mountain zinc-silver project in Idaho and for exploration core drilling, to test compelling targets from significant aircore results, at the Pangeni copper project in Zambia. The company will also continue to identify and secure other high-quality base metal projects.

The offering is subject to regulatory approval and all securities to be issued pursuant to the offering are subject to a four-month and one day hold period under applicable Canadian securities laws.  Founding directors and officers of the company will be participating for a significant portion of the offering.

The offering is expected to close on May 3 as an issuance of subscription receipts to be automatically converted into units upon TSX Venture Exchange approval of the South Mountain project transaction as previously announced by the company on Feb. 28.

BeMetals is a new base metals exploration and development company focused on becoming a significant base metal producer through the acquisition of quality exploration, development and potentially production-stage base metals projects.

Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

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