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BeMetals Upsizes Previously Announced Non-Brokered Financing to $6.25 Million
BeMetals Upsizes Previously Announced Non-Brokered Financing to $6.25 Million Cana...
About this update from Bemetals Corp.
[{"type":"text","content":"\n\n\n\nBeMetals Upsizes Previously Announced Non-Brokered Financing to $6.25 Million\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, April 18, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\nTSXV: BMET     \n VANCOUVER, April 18, 2019 /CNW/ - BeMetals Corp. (TSXV: BMET) (\"BeMetals\" or the \"Company\") is pleased to announce that due to excess demand the Company has increased the size of its previously announced non-brokered private placement offering (see BeMetals' press release dated April 4, 2019) from $5,000,000 to $6,250,000. \nBeMetals intends to issue up to 25,000,000 units (the \"Units\") of the Company at a price of $0.25 per Unit (the \"Offering\") for aggregate gross proceeds of up to $6,250,000. 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. \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. The Company will also continue to identify and secure other high quality base metal projects.\nThe Offering is subject to regulatory approval and all securities to be issued pursuant to the Offering are subject to a four-month and one day hold period under applicabl...