BeMetals Announces Closing of C$ 3.3 million Convertible Debenture Private Placement and Shareholder Approval of B2Gold Corp. as New Control Person

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[{"type":"text","content":"BeMetals Announces Closing of C$ 3.3 million Convertible Debenture Private Placement and Shareholder Approval of B2Gold Corp. as New Control PersonVANCOUVER, BC / ACCESSWIRE / September 11, 2023 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Frankfurt:1OI.F) (the \"Company\" or \"BeMetals\") is pleased to report it has closed its previously announced private placement of C$3,300,000 (the \"Offering\") by issuing a C$3,300,000 convertible debenture (the \"Debenture\") to strategic investor B2GoldCorp. (TSX: BTO, NYSE American: BTG, NSX: B2G) (\"B2Gold\"). B2Goldfunded its subscription in the Offering by applying the principal amount of the previously issued C$1,750,000 bridge loan and by providing an additional C$1,550,000 of new investment.John Wilton, President and CEO of BeMetals stated, \"We are pleased to have closed this financing with B2Gold following strong support by the Company's shareholders at our annual and special meeting held on September 6, 2023. Field operations have commenced at our Todoroki Gold-Silver Project in Hokkaido, Japan and diamond drilling is expected to begin there shortly. In addition, we are currently conducting a substantial aircore and follow-up core drilling phase of exploration at our Pangeni Copper Project in Zambia. New drilling results from these projects should be received and released in the coming months.\"At BeMetals' recent annual and special meeting, all proposed resolutions were passed including 100% of the votes by disinterested shareholders approving the creation of B2Gold as a new \"control person\" of the Company (as such term is defined by the policies of the TSX Venture Exchange) and 100% of the votes by minority shareholders approving the Offering pursuant to Multilateral Instrument 61-101 requirements.The Debenture matures on September 8, 2028 and bears an interest rate of 7% per annum calculated and compounded annually in arrears on each anniversary date. The principal amount of the Debenture is convertible into common shares of BeMetals (\"Common Shares\") at the option of the holder at any time on or before the maturity date at a price of $0.25 per Common Share. Accrued interest on the Debenture is convertible into Common Shares at the option of the holder on the maturity date at a price per Common Share that is the greater of $0.25 and market price at the time of conversion (su...

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