BeMetals Corp. announced a non-brokered private placement to issue an unsecured convertible debenture in the amount of CAD 2 million on January 8, 2024. The transaction included participation from returning investor, B2Gold Corp. The convertible debenture matures on January 8, 2029 and bears interest at the rate of 7% per annum calculated and compounded annually in arrears on each anniversary date. The principal amount of the debenture is convertible into common shares of company at the option of the holder at any time on or before the maturity date at a price of CAD 0.25 per share. Accrued interest on the Debenture is convertible into common shares at the option of the holder on the maturity date at a price per share that is the greater of CAD 0.25 and market price at the time of conversion. The Debenture and any accrued interest thereon is repayable in part or in full at any time without penalty. The debenture, and the common shares that can be acquired on conversion thereof, are subject to a hold period ending on May 9, 2024. The Company is not paying any bonuses, finder's fees, commissions, or transaction fees with regards to the offering.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from one placee and 1 aggregate existing insider for 8,000,000 shares.