Bemetals Corp. announced non brokered private placement offering of up to 70,000,000 units at an issue price of CAD 0.10 per unit for the gross proceeds of CAD 7,000,000 on June 27, 2024. Each Unit will consist of one common share and one-half Share purchase warrant.

Each whole Share purchase warrant. will entitle the holder thereof to purchase one additional Share at an exercise price of CAD 0.18 per Share for one year from the date of issuance. It is expected that the transaction will include participation from returning investor B2Gold, a related party of the Company, will be subscribing for CAD 1.4 million of the Offering to maintain their approximate 19% shareholding.

Directors and Officers of the Company will also be purchasing Units in the Offering. The Offering is subject to approval of the TSX Venture Exchange and all securities to be issued pursuant to the Offering will be subject to a four-month hold period under applicable Canadian securities laws. In connection with the Offering, the Company may pay finders' fees on certain subscriptions.