Mr. Gurminder Sangha reports
FE BATTERY METALS ANNOUNCES PRIVATE PLACEMENT
FE Battery Metals Corp. has arranged a non-brokered private placement for total gross proceeds of up to $1-million. The private placement will consist of issuing up to 8.75 million flow-through common shares at eight cents per share for gross proceeds of $700,000. The balance of the private placement will comprise the issuance of 4,285,714 hard-dollar common shares at seven cents per share for gross proceeds of $300,000.
In connection with this non-brokered private placement, a finder's fee of 6 per cent cash will be paid to eligible finders, in accordance with the policies of the Canadian Securities Exchange. The closing of the proposed private placement is subject to obtaining all required approvals, including from the CSE and any other regulatory approval. All securities issued pursuant to the private placement will be subject to a four-month-and-one-day hold period under applicable securities laws.
The proceeds from the private placement will be used for general working capital and further exploration of its properties located in Quebec.
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