BeMetals Closes Upsized Flow-Through Financing

Executive Summary

• BeMetals Corp. closed a non‑brokered private placement of 12,126,284 flow‑through common shares at C$0.07 per share, raising gross proceeds of C$848,840.
• Proceeds are earmarked for qualifying exploration expenditures on the Savant Gold Project in Ontario, to be incurred by 31 Dec 2026 and renounced to shareholders by 31 Dec 2025.
• Directors subscribed for 1,785,000 shares (C$124,950), constituting a related‑party transaction exempted under MI 61‑101; cash finders’ fees of $39,821 were paid to three broker firms.

Key Details

• Placement Size: 12,126,284 flow‑through common shares issued.
• Price per Share: C$0.07 (US‑equivalent not disclosed).
• Gross Proceeds: C$848,840.
• Use of Proceeds: Eligible “Canadian exploration expenses” on the Savant Gold Project; expenditures must be incurred by 31 Dec 2026 and renounced to subscribers no later than 31 Dec 2025.
• Hold Period: Shares subject to a hold period expiring 25 Feb 2026 under Canadian securities laws.
• Director Participation: Directors subscribed for 1,785,000 shares, providing C$124,950 of the total proceeds.
• Related‑Party Transaction: Treated as a “related party transaction” under MI 61‑101; exemption from formal valuation (section 5.5(b)) and minority shareholder approval (section 5.7(1)(b)).
• Finder’s Fees Paid:
• Haywood Securities Inc.: $31,165
• Eskar Capital Corporation: $6,976
• Ventum Financial Corp.: $1,680
• Exploration Update (CEO Comment): Interim CEO Kristen Reinertson noted completion of reconnaissance mapping and sampling at Savant; a high‑resolution airborne magnetics survey is planned for Fall 2025, with follow‑up exploration slated for Spring 2026 to generate drill targets.

Notable Quotes

• “We're very pleased with the steady progress at the Savant Gold Project… these programs … are expected to refine and prioritize prospective areas across the property and help generate high‑quality targets for future drilling.” – Kristen Reinertson, Interim CEO, BeMetals Corp.