Business
BeMetals Provides Update on Proposed Acquisition of Prospective Projects from Prospector Metals
VANCOUVER, BC / ACCESS Newswire / May 20, 2026 /BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Frankfurt:1OI.F) ("BeMetals" or the "Company") is pleased to provide a progress update on the status of the transactions contemplated under the share purchase ...
About this update from Bemetals Corp.
[{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / May 20, 2026 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Frankfurt:1OI.F) ("BeMetals" or the "Company") is pleased to provide a progress update on the status of the transactions contemplated under the share purchase agreement dated April 15, 2026 (the "Agreement") with Prospector Metals Corp. ("Prospector") (TSXV:PPP)(OTCQB:PMCOF)(Frankfurt:1ET0) pursuant to which BeMetals has agreed to acquire Prospector's remaining viable non-Yukon mineral exploration projects and certain marketable securities (collectively, the "Subject Assets" as described below) in exchange for 29,400,000 common shares of BeMetals on a post-consolidation basis (the "Acquisition") (see the Company's news release dated April 16, 2026 for further details about the Acquisition).","length":856,"tagName":"p"},{"type":"text","content":"The Company has completed a consolidation of its outstanding common shares on the basis of one new common share for every ten common shares (the "Consolidation"), as provided for under the Agreement, on May 8, 2026 (see the Company's news release dated May 1, 2026 for further details about the Consolidation).","length":324,"tagName":"p"},{"type":"text","content":"On May 4, 2026, the Company filed a notice of meeting and record date in connection with its annual general and special meeting of shareholders to be held on July 3, 2026, at which meeting the Company will seek shareholder approval of, among other things, certain transactions related to the Acquisition in accordance with the policies of the TSX Venture Exchange (the "TSXV").","length":387,"tagName":"p"},{"type":"text","content":"As disclosed in the Company's April 16, 2026 news release, Prospector and BeMetals are Non-Arm's Length as defined under TSXV policies by virtue of having B2Gold Corp. as a common insider as a result of its shareholdings in the respective companies; however, Prospector and BeMetals are not "related parties" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions. In addition, the Company's board of directors will also be reconstituted such that it consists of five individuals of whom two will be nominated by each of Prospector and the Company and one wi...