/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
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TSXV: BMET
VANCOUVER,
April 4, 2019
/CNW/ - BeMetals Corp. (TSXV: BMET)
("BeMetals" or the "Company") announces a non-brokered
private placement offering of up to 20,000,000 units (the "Units")
at a price of $0.25 per Unit (the
"Offering") for aggregate gross proceeds of up to $5,000,000. Each Unit will consist of one common
share in the capital of the Company (a "Common Share") and
one-quarter Common Share purchase warrant. Each whole warrant will
entitle the holder thereof 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.
The financing is subject to regulatory approval and all
securities to be issued pursuant to this financing are subject to a
four-month hold period under applicable Canadian securities
laws. Founding Directors and Officers of the Company will be
participating for a significant portion of the
financing.
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, U.S.A. and for exploration core
drilling, to test compelling targets from significant aircore
results, at the Pangeni Copper Project in Zambia, as well as for general working
capital.
The Offering is expected to close 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 February 28, 2019.
ABOUT BEMETALS CORP.
BeMetals' founding Directors include Clive Johnson, Roger
Richer, Tom Garagan and
John Wilton. 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. The Company's growth strategy is led by a strong
Board, key members of which have an extensive proven record of
accomplishment in delivering considerable value in the mining
sector through the discovery, construction and operation of mines
around the world. The Board, its Advisors, and senior management
also provide outstanding deal flow of projects to BeMetals based
upon their extensive network of contacts in the international
minerals business.
ON BEHALF OF BEMETALS
CORP.
"John Wilton"
John
Wilton
President, CEO and
Director
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains "forward-looking statements"
and "forward looking information" (as defined under applicable
securities laws), based on management's best estimates, assumptions
and current expectations. Such statements include but are not
limited to, statements with respect to the proposed private
placement offering, plans for future exploration and development of
the South Mountain Project and the Pangeni Copper Project, and
plans for the acquisition of additional base metal projects. These
statements should not be read as guarantees of future performance
or results. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from those expressed or implied by such
statements. Please refer to the Company's most recent filings under
its profile at www.sedar.com for further information respecting the
risks affecting the Company and its business. The forward-looking
statements and forward looking information are made as of the date
hereof and are qualified in their entirety by this cautionary
statement. The Company disclaims any obligation to revise or
update any such factors or to publicly announce the result of any
revisions to any forward-looking statements or forward looking
information contained herein to reflect future results, events or
developments, except as require by law. Accordingly, readers should
not place undue reliance on forward-looking statements and
information.
SOURCE BeMetals Corp.