TSXV – BMET.H
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, June 19, 2018 /CNW/ - BeMetals Corp.
("BeMetals" or the "Company") is pleased to announce
that it has arranged a non-brokered private placement of 10 million
common shares of the Company at a price of $0.20 per share to raise gross proceeds of
$2 million. The net proceeds will be
used to advance the exploration of the Pangeni copper project
("Pangeni") located on the western extension of the Zambian
Copperbelt (see February 27, 2018
news release) and for working capital purposes, including to
conduct due diligence reviews on additional base metals projects.
Finder's fees or commissions may be paid in connection with the
private placement to registered dealers or pursuant to registration
exemptions in accordance with the policies of the TSX Venture
Exchange ("TSXV").
BeMetals is driving its growth strategy towards the goal of
becoming a significant base metal producer through the acquisition
of quality exploration, development and production stage base
metals projects. This strategy is directed by the Board, key
members of which have an extensive, proven track record in
delivering considerable value in the mining sector through the
discovery and building of mines.
Closing of the private placement is expected to take place
concurrently with TSXV approval for the Pangeni acquisition, which
will constitute the Company's qualifying transaction and move the
Company's stock exchange listing from NEX to Tier 2 of the TSXV.
Trading in the Company's shares has been halted at the Company's
request pending closing of the qualifying transaction.
ON BEHALF OF BEMETALS CORP.
"John Wilton"
John Wilton
CEO, President and Director
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE BeMetals Corp.