BeMetals Closes Upsized Flow-Through Financing

Core Viewpoint - BeMetals Corp. has successfully closed a non-brokered private placement, raising C$848,840 through the issuance of flow-through shares to fund exploration activities at the Savant Gold Project in Ontario, Canada [1][2]. Group 1: Financing Details - The private placement involved the issuance of 12,126,284 common shares at a price of $0.07 per share, resulting in gross proceeds of C$848,840 [1]. - The funds raised will be allocated to incur Qualifying Expenditures related to the Savant Gold Project, which are defined under the Income Tax Act (Canada) [2]. - The securities issued are subject to a hold period that expires on February 25, 2026 [3]. Group 2: Management Commentary - Interim CEO Kristen Reinertson expressed satisfaction with the progress at the Savant Gold Project, highlighting the completion of initial reconnaissance mapping and sampling [2]. - A high-resolution airborne magnetics survey is planned for the fall, with follow-up exploration campaigns scheduled for spring 2026 to refine target areas for future drilling [2]. Group 3: Related Party Transactions - Certain directors of BeMetals subscribed for 1,785,000 flow-through shares, contributing gross proceeds of $124,950, which qualifies as a related party transaction [4]. - The company is relying on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 [4]. Group 4: Company Overview - BeMetals is focused on the exploration and development of precious and base metals, with a portfolio that includes the Savant Gold Project and the Pangeni Copper Project in Zambia [5]. - The company is affiliated with B2Gold Corp., which owns approximately 24% of BeMetals' outstanding shares [5]. - The Savant Gold Project is located in a prolific gold-producing region of Canada, with plans for further exploration and potential strategic acquisitions [5].