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BeMetals Announces $5 Million Non-Brokered Financing
BeMetals Announces $5 Million Non-Brokered Financing Canada NewsWire VANCOUVER, ...
About this update from Bemetals Corp.
[{"type":"text","content":"\n\n\n\nBeMetals Announces $5 Million Non-Brokered Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, April 4, 2019\n\n\n\n\n \n \n \n /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\nTSXV: BMET\n \n 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. \n\n \n \n\n \nThe 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. \nNet 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.  \nThe 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 ...