BeMetals Appoints Mark Connelly to the Board and Expands Strategy into the Precious Metals Sector
July 15, 2020
VANCOUVER, CANADA - BeMetals Corp. (“BeMetals” or the “Company”) (TSXV: BMET, OTCQB: BMTLF, Frankfurt: 1OI.F) is pleased to announce the appointment of Mr. Mark Connelly as non-executive Chairman of the Board. All existing Directors will remain on the Board. BeMetals also announces that the Company will be enhancing its corporate strategy to now include more exposure to precious metals as well as base metals projects.
Mr. Connelly is an internationally experienced financier and executive with an extensive history in the resource industry where he has most recently held the positions of Chief Executive Officer and Managing Director. Mark has a track record for deal making and was principally responsible for the merger of Papillon Resources with B2Gold Corp. in October 2014 (transaction value of USD$570M). Papillon previously owned the world-class Fekola Gold Deposit, which B2Gold operates today. Mr. Connelly was also intricately involved in leading the merger with Adamus Resources Limited and Endeavour Mining Corp. in September 2011 (transaction value of USD$597M). Mark was recipient of the Mining Journal’s “Outstanding Achievement – CEO of the Year 2014 Award” for his remarkable contribution to Papillon Resources. He is currently based in Western Australia where he serves on the boards of a number of other resource companies.
Mark Connelly, non-Executive Chair of BeMetals, stated, “Joining the high calibre team at BeMetals is an exciting opportunity. I look forward to adding my industry knowledge, guidance, and extensive relationships that will benefit BeMetals as it progresses its corporate strategy.”
John Wilton, President, CEO and Director of BeMetals, stated, “I welcome Mark to the team. Given his experience in the resource sector and his existing relationship with our Board members, this appointment complements the addition of precious metals into our strategy to accelerate and diversify BeMetals’ growth profile. We are already assessing multiple precious metal project opportunities of potential interest in various jurisdictions. At BeMetals we have always maintained very low cost overheads, with a deliberate focus on efficient money-in-the-ground investment, which remains an integral culture of the Company as we progress our current and future projects.”
BeMetals has granted 750,000 stock options to Mr. Connelly with an exercise price of $0.365 per share for a 10-year period, vesting over two years, and subject to approval of the TSX Venture Exchange.
The Company has been advised that Clive Johnson, a director who holds a 9.46% ownership of BeMetals, has decreased his shareholdings in order for new director, Mark Connelly, to acquire a larger stake in the Company, which further aligns Mr. Connelly’s interests with existing shareholders of the Company. Mr. Johnson reduced his holding by 950,000 common shares of the Company in this private transaction, representing in aggregate 0.90% of the issued and outstanding shares of the Company. Following this transaction, Mr. Johnson retains 8.56% ownership of the Company on an undiluted basis and 9.46% ownership on a partially diluted basis through his remaining direct and indirect ownership and/or control over an aggregate of 10,075,000 common shares, 300,000 share purchase warrants, and 750,000 incentive stock options. Mr. Johnson disposed of these securities for investment purposes and may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant. An early warning report will be filed by Mr. Johnson in accordance with applicable securities laws.
About BeMetals Corp.
BeMetals is a new precious and base metals exploration and development company focused on becoming a leading diversified metal producer through the acquisition of quality exploration, development and potentially production stage projects. In addition, the Company is progressing both its advanced high-grade, zinc-silver-gold-copper polymetallic underground exploration at the South Mountain Project in Idaho, and its tier-one targeted, Pangeni Copper Exploration Project in Zambia. The Company’s growth strategy is led by our strong Board, key members of which have an extensive proven record of delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world.
On Behalf of BeMetals Corp.
President, CEO and Director
For further information about BeMetals please visit our website at www.bemetalscorp.com and sign-up to our email list to receive timely updates, or contact:
Vice President, Investor Relations & Corporate Development
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 release.
Cautionary Note Regarding Forward-Looking StatementsThis 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 plans for future exploration and development of the South Mountain and Pangeni projects, and the acquisition of additional base 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 agreements for the South Mountain Project and/or 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.sedar.com for further information respecting the risks affecting the Company and its business.