First Energy Metals Provides Corporate Update and Announces Private Placement
TSX VENTURE EXCHANGE: FE
U.S. 20-F Registration: 000-29870
OTC BULLETIN BOARD: ASKDF
FRANKFURT STOCK EXCHANGE: A2JC89
VANCOUVER, Feb. 20, 2019 /CNW/ - First Energy Metals Ltd. (TSX-V: FE or the "Company) has commenced its previously announced exploration drill program on December 12, 2018 but due to poor weather conditions there have been delays in the completion of the exploration program. The Company expects to complete the drill program in the coming weeks.
The Company is pleased to report that its shareholders approved all of the motions presented at its Annual General Meeting held on February 19, 2019.
The Company is also pleased to announce a non-brokered private placement for gross proceeds of up to $75,000 from the sale of up to 357,143 common shares at a price of 0.21 cents per common share. Proceeds of the private placement will be used primarily for general working capital and further exploration of the Company's Phyllis cobalt property.
The above mentioned private placement will be subject to TSX Venture Exchange approval. In addition to compliance with applicable securities laws and receipt of all final regulatory approval.
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 properties 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
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.
SOURCE First Energy Metals Limited
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