Business
First Energy Metals Closes First Tranche of Private Placement
VANCOUVER, March 31, 2020 /CNW/ - First Energy Metals Ltd. (CSE: FE) ("First Energy" or the "Company) is pleased to announce it has closed its first tranche of
About this update from Linear Minerals Corp.
[{"type":"text","content":" VANCOUVER, March 31, 2020 /CNW/ - First Energy Metals Ltd. (CSE: FE) (\"First Energy\" or the \"Company) is pleased to announce it has closed its first tranche of the hard dollar unit private placement previously as per the news release dated March 17,2020. As part of the closing of the tranche the Company will issue 6,999,000 units at a price of 0.05 cents per unit for gross proceeds of $ 349,950. 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 $0.20 for a period of one year 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 work for the Kokanee Creek and Independence gold properties, along with use for general working capital purposes. 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. 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 Canadian Securities Exchange (CSE) 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 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...