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