BTU Arranges Flow Through Financing

VANCOUVER, BC / ACCESSWIRE / February 18, 2020 / BTU METALS CORP. ("BTU" or the "Company") (TSXV:BTU) announces it has arranged a non-brokered private placement of up to 2,500,000 flow-through units (the "FT Units") at a price of $0.30 per FT Unit (the "FT Offering"), for aggregate gross proceeds of up to $750,000.

Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of BTU at a price of $0.40 for a period of 24 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec). The warrants issued with the units sold will be subject to an acceleration provision. After four months have elapsed from closing, if BTU's shares trade above $0.60 for 10 consecutive trading days, the Company has the option to provide notice to the warrant holders that their warrants will expire if they are not exercised within 30 days.

Proceeds raised from the Offering will be used for ongoing work programs at the Dixie Halo Project located in Red Lake, Ontario, contiguous to Great Bear Resources, as the Company continues to drill at its high-grade gold targets at Dixie Creek and its VMS targets at TNT. Finders' fees will be payable on the private placement, subject to the policies of the TSX Venture Exchange.

Closing of the offering is subject to approval of the TSX Venture Exchange.

The securities issued under the offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

BTU Metals Corp. is a junior, mining exploration company focused on its Dixie Halo project located in Red Lake, Ontario.

ON BEHALF OF THE BOARD

"Paul Wood"

Paul Wood, CEO, Director
pwood@btumetals.com

FOR FURTHER INFORMATION, PLEASE CONTACT:

Andreas Curkovic, Investor Relations
+1 416-577-9927
BTU Metals Corp.
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

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.

SOURCE: BTU Metals Corp.