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BeMetals Completes Second Stage of Option to Acquire High-Grade South Mountain Zinc-Silver Project in Idaho and Provides Corporate Updates
BeMetals Completes Second Stage of Option to Acquire High-Grade South Mountain Zinc-Silver...
About this update from Bemetals Corp.
[{"type":"text","content":"\n\n\n\nBeMetals Completes Second Stage of Option to Acquire High-Grade South Mountain Zinc-Silver Project in Idaho and Provides Corporate Updates\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, June 11, 2019\n\n\n\nTSXV: BMET \n VANCOUVER, June 11, 2019 /CNW/ - BeMetals Corp. (TSXV: BMET) (\"BeMetals\" or the \"Company\") is pleased to announce it has received final approval from the TSX Venture Exchange (\"TSX-V\") and has completed the second stage (the \"Second Stage\") of its previously announced option agreement (the \"Option Agreement\") with Thunder Mountain Gold, Inc. (OTCQB: THMG, TSXV: THM) (\"Thunder Mountain\") and certain of its wholly-owned subsidiaries. The Option Agreement secures the right to acquire up to a 100% interest in the South Mountain Project (\"South Mountain\" or the \"Project\") in southwest Idaho, U.S.A. (the \"Transaction\").  Concurrent with closing of the Second Stage, proceeds from the previously completed $6.25 million private placement of subscription receipts (the \"Private Placement\") were released from escrow and added to the Company's working capital.\nJohn Wilton, President and CEO of BeMetals commented, \"In anticipation of completing this second stage of the Option Agreement, we have conducted project planning meetings in preparation for the initial underground drilling program at South Mountain. This drilling will commence as soon as possible, following site re-establishment. Special thanks to the management of Thunder Mountain in reaching this   milestone. Over the coming weeks we expect to announce further updates on our 2019 exploration and development programs, including the commencement of drilling at both our high-grade South Mountain Zinc-Silver Project in Idaho and our exciting Pangeni Copper Exploration Project in Zambia.\"   \nCorporate Updates Related to the Transaction \nIn connection with the Second Stage, BeMetals has issued 10 million common shares in the capital of the Company to Thunder Mountain (the \"Transaction Shares\"). The Transaction...