First Energy Metals Limited Closes Private Placement
VANCOUVER, December 18, 2018 - First Energy Metals Ltd. (TSX V: FE) (the "Company) ispleased to announce the closing of its non-brokered private placement financingannounced on December 12, 2018, for total proceeds of $250,000 by the issuanceof 1,190,476 common shares at $0.21 common shares (the "Placement"). The Company also paid finder's fees totaling $6,247.50 cash in connectionwith a portion of the Placement.
All securities issued in connection with thePlacement are subject to a statutory hold period of four months and one dayfrom the issuance date thereof.
The Company intends to use proceeds from the Placementfor continued exploration of the Company's Phyllis Cobalt property as well asfor general working capital.
AboutFirst Energy Metals Limited
First Energy Metals Ltd. is a junior resourcecompany engaged in the exploration and development of energy metals such aslithium, cobalt, and graphite within its property portfolio in North America.The Company's goal is to acquire prospective technology metals properties and developthem. The Company currently holds an option to acquire 100% interest in PhyllisCobalt property in Ontario, Canada, in addition to the recently optioned RusselGraphite Property in Gatineau area of Quebec. First Energy Metals Ltd.(formerly "Agave Silver ") was incorporated on October 12, 1966 inBritish Columbia. The Company's common shares trade on the TSX Venture Exchangeunder the symbol FE and are also listed on the US OTC Markets (Pink) as ASKDFand on the Frankfurt Stock Exchange as A2JC89.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
"Gurminder Sangha"
GurminderSangha
President & Chief Executive Officer
For furtherinformation: please contact (604) 375-6005.
Neither theToronto Stock Exchange (TSX) nor its Regulation Services Provider acceptsresponsibility for the adequacy or accuracy of this news release and hasneither approved nor disapproved the contents of this news release.
Forward-lookingInformation
This news release may containforward-looking information (as such term is defined under Canadian securitieslaws). While such forward-looking information is expressed by the Company ingood faith and believed by the Company to have a reasonable basis, they addressfuture events and conditions and are, therefore, subject to inherent risks anduncertainties.The Company expresslydisclaims any intention or obligation to update or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise, except in accordance with applicable securities law.
SOURCE: First Energy MetalsLimited
