BeMetals Raises $1.1 Million Through the Sale of Marketable Securities and Announces Flow-Through Financing

Rhea-AI Summary

BeMetals (OTCQB: BMTLF / TSXV: BMET) raised approximately C$1,133,000 from sales of marketable securities, bringing its cash balance to about C$1,520,000. The company announced a non-brokered flow-through private placement of up to 10,700,000 FT shares at $0.07 per share for gross proceeds up to C$749,000 to fund qualifying Canadian exploration expenditures on the Savant Gold Project in Ontario.

Initial Savant field work (ground sampling and mapping) begins in early October. FT expenditures must be incurred by Dec 31, 2026 and renounced no later than Dec 31, 2025. Closing is subject to TSXV approval and FT shares carry a four-month hold.

Positive

• Proceeds of approximately C$1,133,000 from marketable securities
• Cash balance increased to approximately C$1,520,000
• Flow-through placement up to C$749,000 earmarked for Savant exploration
• Initial exploration (sampling and mapping) commencing early October

Negative

• Up to 10,700,000 new FT shares may dilute existing shareholders
• FT expenditures must be incurred by Dec 31, 2026, imposing a spending timeline
• Private Placement subject to TSXV approval and a four-month resale hold

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / October 9, 2025 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Frankfurt:1OI.F) ("BeMetals" or the "Company") is pleased to announce it has raised proceeds of approximately C$1,133,000 through the sales of marketable securities held by the Company. The sales were conducted through the facilities of the TSX Venture Exchange. The proceeds from the sales strengthens BeMetals' cash position and brings its current cash balance to a total of approximately C$1,520,000.

BeMetals also announces it intends to complete a non-brokered private placement (the "Private Placement") of up to 10,700,000 common shares of the Company that qualify as "flow-through shares", as defined in the Income Tax Act (Canada) (the "Tax Act"), (each, a "FT Share") at a price of $0.07 per FT Share for aggregate gross proceeds of up to C$749,000.

The Company intends to use the gross proceeds of the Private Placement to incur Qualifying Expenditures (as defined below) on the Company's Savant Gold Project (the "Savant Project"), located in Ontario, Canada.

BeMetals' initial exploration work program at the Savant Project is commencing in early October and is to include ground sampling and mapping activities. This work will focus on collecting geological data to assist in refining and prioritizing prospective areas of interest, with the objective of generating targets for future drilling.

The gross proceeds from the FT Shares will be used to incur eligible "Canadian exploration expenses" related to the Company's mineral project in Ontario that qualify as "flow-through mining expenditures" as both terms are defined in the Tax Act (the "Qualifying Expenditures"). Such Qualifying Expenditures will be incurred on or before December 31, 2026, and renounced to the benefit of subscribers with an effective date no later than December 31, 2025.

The closing of the Private Placement is subject to certain closing conditions, including the approval of the TSX Venture Exchange ("TSXV"). The securities to be issued pursuant to the Private Placement will be subject to a four-month hold period under applicable Canadian securities laws. The Company may pay finder's fees to certain arm's length finders engaged in connection with the Private Placement, subject to the approval of the TSXV.

The securities to be offered pursuant to the Private Placement 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 precious and base metals exploration and development company focused on advancing its portfolio of high-potential mineral projects. BeMetals is an affiliate company of B2Gold Corp. which currently owns approximately 24% of BeMetals outstanding shares. The Company plans to explore the Savant Gold Project in northwestern Ontario, one of Canada's most prolific gold-producing regions which hosts several past producers as well as current operations, including the Red Lake and Musselwhite mines. The Company also has the Pangeni Copper Project in the Zambian Copperbelt, with co-funding and technical partner JOGMEC. Here the Company has discovered copper mineralization with geological characteristics and intersected widths and grades similar to that of large-scale copper mines in the same region. Additionally, the Company has its compelling Kazan gold exploration projects in Japan, while continuing to evaluate additional potential strategic acquisition opportunities.

ON BEHALF OF BEMETALS CORP.

"Kristen Reinertson"
Kristen Reinertson
Interim CEO & Director

For further information, please contact:

Derek Iwanaka
Vice President, Investor Relations & Corporate Development
Telephone: +1-604-928-2797
Email: diwanaka@bemetalscorp.com
Website: www.bemetalscorp.com

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 news 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 Private Placement (including the size and completion of the Private Placement as announced or at all, the use of proceeds of the Private Placement, the timing to renounce all Qualifying Expenditures in favour of the subscribers, and the receipt of TSXV approval of the Private Placement), and statements with respect to future exploration, development and advancement of the Savant Gold Project in Canada, the Kazan Gold Projects in Japan and the Pangeni Copper Project in Zambia, and the acquisition of additional base and/or precious metal projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results. 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, including but not limited to: the actual results of exploration activities, the availability of financing and/or cash flow to fund the current and future plans and expenditures, the ability of the Company to satisfy the conditions of the option agreement for the Pangeni Project, and changes in the world commodity markets or equity markets. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. 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. Please refer to the Company's most recent filings under its profile at www.sedarplus.ca for further information respecting the risks affecting the Company and its business.

SOURCE: BeMetals Corp.

View the original press release on ACCESS Newswire

FAQ

How much did BeMetals (BMTLF) raise from marketable securities on October 9, 2025?

BeMetals raised approximately C$1,133,000 from the sale of marketable securities.

What is the size and price of BeMetals' flow-through private placement (BMTLF)?

The private placement is up to 10,700,000 FT shares at $0.07 per share for gross proceeds up to C$749,000.

What will BeMetals (BMTLF) use the flow-through proceeds for?

Proceeds will fund qualifying Canadian exploration expenditures on the Savant Gold Project in Ontario.

When must BeMetals incur and renounce the flow-through qualifying expenditures?

Qualifying expenditures must be incurred on or before Dec 31, 2026 and renounced to subscribers no later than Dec 31, 2025.

When does exploration at the Savant Project start and what activities are planned?

Initial field work begins in early October 2025 and includes ground sampling and geological mapping to generate drill targets.

Are there restrictions or approvals affecting the BMTLF private placement closing?

Closing is subject to TSXV approval, FT shares carry a four-month hold, and the securities are not registered for sale in the United States.