FE Battery Metals (CSE: FE) (OTC: FEMFF), a publicly traded Canadian mineral exploration company, announced the closing of the first tranche of FEMFF’s nonbrokered private placement. According to the announcement, gross proceeds from the placement reached up to $1,000,000. Included as part of the closing, FE Battery Metals will issue 1,739,130 common shares at $0.23 per share for gross proceeds of $400,000; the company will also pay 6% in finders’ fees. The company noted that final closing of the private placement is subject to obtaining all required approvals. “All securities issued in connection with the private placement 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,” the press release stated. “The proceeds from the private placement will be used for general working capital and to its further exploration efforts on its properties located in Quebec. The company has also granted incentive stock options to certain directors, officers and consultants to purchase up to an aggregate of 1,200,000 common shares under the company’s Incentive Stock Option Plan.”
To view the full press release, visit https://ibn.fm/WJkAp
About FE Battery Metals Corp.
FE Battery Metals is a Canadian mineral exploration company with a primary focus of acquiring mineral properties in the battery metal sector. The company’s goal is to identify, acquire and explore North American mineral prospects with a primary focus on lithium. 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; and create shareholder value through exploration success. For more information about the company, please visit www.FEBatteryMetals.com.
NOTE TO INVESTORS: The latest news and updates relating to FEMFF are available in the company’s newsroom at https://ibn.fm/FEMFF
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