TSXV – BMET.H
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, June 19, 2018 /CNW/ - BeMetals Corp. ("BeMetals" or the "Company") is pleased to announce that it has arranged a non-brokered private placement of 10 million common shares of the Company at a price of $0.20 per share to raise gross proceeds of $2 million. The net proceeds will be used to advance the exploration of the Pangeni copper project ("Pangeni") located on the western extension of the Zambian Copperbelt (see February 27, 2018 news release) and for working capital purposes, including to conduct due diligence reviews on additional base metals projects. Finder's fees or commissions may be paid in connection with the private placement to registered dealers or pursuant to registration exemptions in accordance with the policies of the TSX Venture Exchange ("TSXV").
BeMetals is driving its growth strategy towards the goal of becoming a significant base metal producer through the acquisition of quality exploration, development and production stage base metals projects. This strategy is directed by the Board, key members of which have an extensive, proven track record in delivering considerable value in the mining sector through the discovery and building of mines.
Closing of the private placement is expected to take place concurrently with TSXV approval for the Pangeni acquisition, which will constitute the Company's qualifying transaction and move the Company's stock exchange listing from NEX to Tier 2 of the TSXV. Trading in the Company's shares has been halted at the Company's request pending closing of the qualifying transaction.
ON BEHALF OF BEMETALS CORP.
CEO, President 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.
SOURCE BeMetals Corp.
For further information: Kristen Reinertson, CFO & Corporate Secretary, (604) 609-6118