TSX VENTURE EXCHANGE: FE
U.S. 20-F Registration: 000-29870
OTC BULLETIN BOARD: ASKDF
FRANKFURT STOCK EXCHANGE:
DFL
VANCOUVER, Feb. 22, 2018 /CNW/ - First Energy Metals Limited
("First Energy" or the "Company") is pleased to announce the
closing of its non-brokered private placement financing announced
on January 29, 2017, for gross
proceeds of $500,000 by the issuance
of 2,716,665 non- flow through shares and 616,665 flow-through
shares at $0.15 per share. In
connection with the private placement the Company intends to pay a
cash finder's fee of 5%. All securities issued pursuant to this
financing are subject to the customary four month hold period and
remain subject to final TSX-V approval.
The proceeds will be used for exploration of the Company's
properties and general working
In addition the Company is pleased to announce the appointment
of Mr. Jurgen Wolf to its board of
directors. Mr. Wolf has been involved in the oil and gas industry
for more than 15 years, assisting public companies with investor
relations and administration. Mr. Wolf was educated in Germany and immigrated to Canada in 1953. From 1958 to 1982 he operated
and owned pre-cast concrete factories in Calgary and Vancouver, and from 1982 to 2002 he operated
and owned J.A. Wolf Projects, Ltd., a commercial construction
company. Mr. Wolf was President and a director of former US Oil and
Gas Resources Inc., which amalgamated to form Petrichor Energy Inc.
in 2005. Mr. Wolf is a director of several public companies.
On behalf of the Board of Directors of
FIRST ENERGY METALS LIMITED
"Ernest Peters"
Ernest Peters
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within
the meaning of the Canadian securities laws. Forward-looking
information in this news release includes statements about share
consolidation.
In connection with the forward-looking information contained in
this news release, First Energy has made numerous assumptions
regarding, among other things: TSXV regulatory approval for planned
transactions. While First Energy considers these assumptions
to be reasonable, these assumptions are inherently subject to
significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which
could cause First Energy's actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein. Known risk
factors include, among others: regulatory approval may not be
obtained on a timely basis, or at all; the Company may require
additional working capital sooner than predicted; the overall
economy may deteriorate; uncertainty as to the availability and
terms of future financing.
A more complete discussion of the risks and uncertainties facing
First Energy is disclosed in First Energy 's continuous disclosure
filings with Canadian securities regulatory authorities at
www.sedar.com. All forward-looking information herein is
qualified in its entirety by this cautionary statement, and First
Energy disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of
any revisions to any of the forward-looking information contained
herein to reflect future results, events or developments, except as
required by law.
SOURCE First Energy Metals Limited