BeMetals Corp. (TSX-V: BMET) (OTCQB: BMTLF) (Frankfurt: 1OI.F) is pleased to announce that it has closed its previously announced private placement offering by issuing a total of 18.75 million common shares at a price of $0.40 per Share for aggregate gross proceeds of C$7,500,000.

Haywood Securities Inc. acted as lead agent on behalf of a syndicate of agents that included Canaccord Genuity Corp. and Raymond James Ltd.

BeMetals President and CEO, John Wilton commented, “We were very pleased by the level of interest for this brokered private placement which remained significantly over-subscribed even after its upsizing. The magnitude of interest and support in this and previous financings continues to demonstrate the quality of the Company’s current projects, prudent deployment of funding, and future growth strategy.

The proceeds from this financing will allow for our continued evaluation of potential precious metal project acquisition opportunities in line with the Company’s growth strategy. This strategy will utilize the Company’s strong international mineral business network and experience from its Directors, management and advisors. Also the Company will commence underground drilling at its advanced high-grade zinc-silver-gold-copper South Mountain Project in Idaho. Additionally, a third phase of shallow aircore drilling at our, tier-one targeted, Pangeni Copper Exploration Project in areas of extensions to the prolific Zambian Copperbelt will commence.”

The common shares issued under the Offering will be subject to a statutory hold period expiring on December 14, 2020.

In connection with the Offering, the Company has paid to the Agents a cash commission of $433,500.  In addition, the Company issued to the Agents an aggregate of 1,083,750 non-transferrable warrants of the Company, exercisable for a period of 24 months following the closing of the Offering at an exercise price of to C$0.40.  The securities issued to the Agents are subject to a hold period expiring December 14, 2020.

The Company plans to use the net proceeds from the Offering to continue review of potential gold project acquisitions, for the exploration and advancement of the Company’s projects in Idaho and Zambia, and for general corporate purposes.

The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About BeMetals Corp.

BeMetals is a new precious and base metals exploration and development company focused on becoming a leading diversified metal producer through the acquisition of quality exploration, development and potentially production stage projects. In addition, the Company is progressing both its advanced high-grade, zinc-silver-gold-copper polymetallic underground exploration at the South Mountain Project in Idaho, and its tier-one targeted, Pangeni Copper Exploration Project in Zambia. BeMetals’ growth strategy is led by our strong board and management, founders of the Company and significant shareholders, who have an extensive proven record of delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world.