Mr. Peter Born reports

BEDFORD METALS ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Bedford Metals Corp. has completed its non-brokered private placement of convertible debentures units and has issued 447.5 debenture units at a price of $1,000 per debenture unit for gross proceeds of $447,500.

Each debenture unit consists of: (i) one unsecured convertible debenture in the principal amount of $1,000, maturing on Aug. 18, 2028; and (ii) 9,090 detachable common share purchase warrants of the company. In connection with completion of the offering, the company has issued 4,067,775 warrants.

Each convertible debenture bears interest at a rate of 8 per cent per annum, payable upon the maturity date. Each warrant entitles the holder purchase one common share of the company at a price of 11 cents until Aug. 18, 2028. The principal amount of the convertible debentures is convertible into common shares of the company, at the option of the holder, at a rate of one conversion share for every 11 cents of outstanding indebtedness.

The proceeds of the offering will be utilized by the company for general working capital purposes and to complete planned work at its wholly owned Margurete gold project, located at Phillips Arms in southwestern British Columbia.

No finders' fees or commissions were paid in connection with completion of the offering. All securities issued in connection with the offering are subject to a statutory hold period until Dec. 19, 2023, in accordance with applicable securities laws.

We seek Safe Harbor.