Business
First Energy Metals Closes C$350,000 Private Placement
VANCOUVER, BC, Dec. 31, 2020 /CNW/ - First Energy Metals Ltd. (CSE: FE) ("First Energy" or the "Company) is pleased to announce that it has closed a non-brokere
About this update from Linear Minerals Corp.
[{"type":"text","content":" VANCOUVER, BC, Dec. 31, 2020 /CNW/ - First Energy Metals Ltd. (CSE: FE) (\"First Energy\" or the \"Company) is pleased to announce that it has closed a non-brokered private placement for aggregate gross proceeds of $600,000 (the \"Offering \"). The Offering consisted of the sale of $350,000 flow-through units (\"FT Units \") at $0.25 per FT Unit and the sale of $250,000 hard dollar units (\"HD Units \") at $0.20 per HD Unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.40 for a period of three years from the issue date. Final closing of the transaction and private placement is subject to obtaining all required approvals, including from the CSE, and any other regulatory approval. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. First Energy intends to use the net proceeds from the offering to finance exploration work on its properties, along with general working capital purposes. About First Energy Metals Limited. First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector. The company's strategy is to: Acquire and advance projects through prospecting and early-stage exploration. Source joint venture partners to finance future exploration and project development. Create shareholder value through exploration success. First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time. ON BEHALF OF THE BOARD OF FIRST ENERGY METALS LTD. \"Gurminder Sangha\"Gurminder Sangha President & Chief Executive Officer Neither the Canadian Securities Exchange (CSE) 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 Except for t...