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BeMetals Enters the Gold Sector with Acquisitions in Japan and Announces B2Gold as New Strategic Investor
VANCOUVER, BC / ACCESSWIRE / February 17, 2021 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Fr...
About this update from Bemetals Corp.
[{"type":"text","content":"BeMetals Enters the Gold Sector with Acquisitions in Japan and Announces B2Gold as New Strategic InvestorVANCOUVER, BC / ACCESSWIRE / February 17, 2021 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Frankfurt:1OI.F) (the \"Company\" or \"BeMetals) is pleased to announce that it has signed an Amalgamation Agreement (the \"Agreement\") to acquire privately owned Kronk Resources Inc. (\"Kronk\") and its wholly owned subsidiary Kazan Resources (\"Kazan\"), which holds the rights to a highly prospective portfolio of advanced and early stage gold exploration projects in Japan (the \"Transaction\"). See Figure 1 for project locations in Japan. In addition, BeMetals is pleased to announce a non-brokered private placement of $7.5 million (the \"Offering\") through the issuance of approximately 17.05 million shares of BeMetals at $0.44 per share to senior gold producer and new strategic investor, B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) (\"B2Gold\"), subject to successful closing of the Transaction. B2Gold is an existing shareholder of Kronk, owning approximately 15.4 million shares of the company. Following the Transaction and Offering, B2Gold will hold approximately 19% of BeMetals' outstanding shares. All dollar figures are in Canadian dollars unless otherwise indicated.TRANSACTION AND OFFERING HIGHLIGHTS:Benefits to BeMetals ShareholdersThe Transaction establishes BeMetals in the gold sector with an expertly selected portfolio of gold properties in Japan, including the advanced exploration-stage Kato Project in Hokkaido. This delivers on the goal of identifying quality entry level gold projects;Through the Offering, B2Gold will become a new strategic investor and a major shareholder of BeMetals, holding approximately 19% of the Company's outstanding shares post-closing of the Transaction and the Offering. This provides a strong technical cornerstone investor in the Company. In addition, BeMetals will have access to B2Gold's experienced exploration team to assist in evaluating additional precious metals projects;Japan possesses extensive geological settings prospective for gold mineralization which have attracted several international gold producers including B2Gold;The Offering also provides BeMetals with appropriate capital to advance the Company's gold exploration in Japan, its existing quality exploration and development pr...