BeMetals Announces $5 Million Non-Brokered Financing

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TSXV: BMET

VANCOUVER, April 4, 2019 /CNW/ - BeMetals Corp. (TSXV: BMET) ("BeMetals" or the "Company") announces a non-brokered private placement offering of up to 20,000,000 units (the "Units") at a price of $0.25 per Unit (the "Offering") for aggregate gross proceeds of up to $5,000,000. 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 30^th day after the date on which BeMetals provides notice to the Warrant holders of such acceleration.

The financing is subject to regulatory approval and all securities to be issued pursuant to this financing are subject to a four-month hold period under applicable Canadian securities laws.  Founding Directors and Officers of the Company will be participating for a significant portion of the financing.

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, U.S.A. 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. 

The Offering is expected to close as an issuance of subscription receipts to be automatically converted into Units upon TSX Venture Exchange approval of the South Mountain Project transaction as previously announced by the Company on February 28, 2019. 

ABOUT BEMETALS CORP.

BeMetals' founding Directors include Clive Johnson, Roger Richer, Tom Garagan and John Wilton. BeMetals is a new base metals exploration and development company focused on becoming a significant base metal producer through the acquisition of quality exploration, development and potentially production stage base metals projects. The Company's growth strategy is led by a strong Board, key members of which have an extensive proven record of accomplishment in delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world. The Board, its Advisors, and senior management also provide outstanding deal flow of projects to BeMetals based upon their extensive network of contacts in the international minerals business.

ON BEHALF OF BEMETALS CORP.

"John Wilton" 

John Wilton
President, CEO 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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" and "forward looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to the proposed private placement offering, plans for future exploration and development of the South Mountain Project and the Pangeni Copper Project, and plans for the acquisition of additional base metal projects. These statements should not be read as guarantees of future performance or results. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements. Please refer to the Company's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business. The forward-looking statements and forward looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement.  The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information.

SOURCE BeMetals Corp.

about BeMetals please visit our website at www.bemetalscorp.com and sign-up to our email list to receive timely updates, or contact: Derek Iwanaka, Vice President, Investor Relations & Corporate Development, Telephone: [phone], Email: [email protected]