Vancouver, British Columbia (FSCwire) - First Energy Metals Ltd. (TSX V: FE) (the “Company) is pleased to announce a non-brokered private placement for gross proceeds of up to $275,000 from the sale of up to 3,333,333 units at a price of $0.0825 per unit (the “Unit”).  Each Unit will consist of one common share and one non-transferable common share purchase warrant (a “Warrant”).  Each Warrant will entitle the holder to purchase an additional common share for a price of $0.11 per share for a period of two years from the date of closing of the private placement.

 

In addition, the Company proposes a second private placement for gross proceeds of up to $75,000 from the sale of up to 909,091 flow through shares at a price of $0.0825 per flow through share.

 

There will be finders’ fees payable and are subject to the TSX Venture Exchange policies.  The private placement is also subject to compliance with applicable securities laws and to receipt of regulatory approval.

 

Proceeds of the private placement will be used primarily for continued exploration of the Company’s Phyllis Cobalt and Russel Graphite properties and as well as for general working capital.

 

About First Energy Metals Limited.

 

First Energy Metals Limited is a junior resource company engaged in the exploration and development of energy metals such as lithium, cobalt, and graphite within its property portfolio in North America. The Company's goal is to acquire prospective technology metals projects and develop them. The Company currently holds an option to acquire 100% interest in Phyllis Cobalt property in Ontario, Canada, in addition to the recently optioned Russel Graphite Property in Gatineau area of Quebec. First Energy Metals Limited (formerly "Agave Silver ") was incorporated on October 12, 1966 in the Province of British Columbia. The Company's common shares trade on the TSX Venture Exchange under the symbol FE and are also listed on the US OTC Markets (Pink) as ASKDF and on the Frankfurt Stock Exchange as A2JC89.

 

ON BEHALF OF THE BOARD OF

FIRST ENERGY METALS LTD.

 

"Gurminder Sangha"

Gurminder Sangha

President & Chief Executive Officer

 

For further information, please contact the Company at: (604) 375-6005

 

Neither the Toronto Stock Exchange (TSX) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

 

Forward-looking Information

 

This news release may contain forward-looking information (as such term is defined under Canadian securities laws). While such forward-looking information is expressed by the Company in good faith and believed by the Company to have a reasonable basis, they address future events and conditions and are, therefore, subject to inherent risks and uncertainties.  The Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities law.

To view the original release, please click here

Source: First Energy Metals Limited (TSX Venture:FE, OTC Pink:ASKDF, FWB:DFLA)

To follow First Energy Metals Limited on your favorite social media platform or financial websites, please click on the icons below.

 

Maximum News Dissemination by FSCwire. https://www.fscwire.com

Copyright © 2018 FSCwire