Prospector and BeMetals Announce Financing Initiative

Prospector Metals Corp. and BeMetals Corp. have unveiled plans for a private placement offering, seeking up to $4,000,000 through 8,000,000 subscription receipts priced at $0.50 each. This move aligns with BeMetals’ asset acquisition under an agreement with Prospector Subco Ltd. The acquisition involves 29,400,000 BeMetals shares in exchange for Subco's mineral projects.

The financing initiative is linked to BeMetals' impending rebranding to Lightning Resource Corp. and the restructuring of its board. Finco, a Prospector subsidiary, will manage the proceeds in escrow pending approval from the TSX Venture Exchange and the British Columbia court.

Subject to conditions, subscription receipts will convert to Finco units. Funds will support exploration and project development, along with administrative costs. Completion relies on regulatory and shareholder approvals.