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InvestmentPitch Media Video Discusses BeMetals' Pending Acquisition of South Mountain Polymetallic Project in Idaho and New $5 Million Non-Brokered Private Placement - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2019) -  BeMetals Corp. (TSXV: BM...
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[{"type":"text","content":"InvestmentPitch Media Video Discusses BeMetals' Pending Acquisition of South Mountain Polymetallic Project in Idaho and New $5 Million Non-Brokered Private Placement - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - April 5, 2019) -  BeMetals Corp. (TSXV: BMET) has announced a non-brokered private placement. The company plans to raise gross proceeds of up to $5 million from the placement of up to 20 million units priced at $0.25 per unit, with each unit consisting of one share and one-quarter of a warrant, with each full warrant exercisable at $0.35 for 24 months, subject to an acceleration clause. InvestmentPitch Media has produced a \"video\" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"BeMetals\" in the search box. Cannot view this video? Visit:http://www.investmentpitch.com/video/0_3ht9q8hs/BeMetals-Corp-has-announced-a-non-brokered-private-placementThe offering is expected to close as an issuance of subscription receipts to be automatically converted into units upon TSX Venture Exchange approval of the previously announced acquisition of the South Mountain Project. Net 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, USA, 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. South Mountain is a polymetallic development project focused on high-grade zinc and is located approximately 70 miles southwest of Boise, Idaho. The project was intermittently mined from the late 1800s to the late 1960's and its existing underground workings remain intact and well maintained. Historic production at the Project has largely come from skarn-hosted and high-grade massive sulfide bodies that remain open at depth and along strike. These high-grade bodies comprise South Mountain's current mineral resource. According to historical smelter records approximately 53,642 tons of ore have been mined to date. These records also indicate average grades; 14.5% Zinc, 10.6 ounces per ton Silver, 0.058 ounces per ton gold, 2.4% Lead, and 1.4% Copper were realised.John Wilton, President and CEO, ...