VANCOUVER, BC / ACCESSWIRE / October 18, 2024 / FE Battery Metals Corp. (the "Company") (OTCQB:FEMFF)(WKN:A2JC89) is pleased to announce it has closed the first tranche of the non-brokered private placement previously announced on October 11, 2024, for gross proceeds of up to $1,000,000. As part of the closing the first tranche, the Company will issue 8,750,000 flow-through common shares at a price of $0.08 cents per share for gross proceeds of $700,000 and will pay 6% in finders' fees of $42,000.
Final closing of the 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 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 proceeds from the private placement will be used for general working capital and to its further exploration efforts on its properties located in Quebec.
ON BEHALF OF THE BOARD OF
FE BATTERY METALS CORP.
"Gurminder Sangha"
Gurminder Sangha
CEO & Director
For further information, please contact the Company at: [email protected]
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.
SOURCE: FE Battery Metals Corp.