First Vitality Hires Digitial Advertising Advisor and Doubles Drill Program at Augustus Lithium Property
VANCOUVER, BC, June 14, 2021 / CNW / – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce that it has engaged Sidis Holdings Limited (” Sidis “) and Maynard Communications Limited (” Maynard “) to provide corporate communications services to the Company The services provided by Sidis and Maynard include, but are not limited to, SEO, digital media campaigns for branding, media consulting, general business development, multimedia services, and project management. Time is also devoted to marketing / promoting products and services
The term of the contract extends from the effective date June 14, 2021 until the digital media marketing campaign and associated media buying are complete. The company pays $ 300,000 to Sidis for a period of 30 months for the above services. In addition, the company pays $ 300,000 for a period of 6 months according to Maynard. First Energy may choose to prepay the above expenses with cash.
Each of the above parties are independent consultants hired to provide digital marketing to the company primarily using Google ads, digital media, business consulting, branding and strategic business services. Neither First Energy nor any of its directors, officers or employees have any direct or indirect interest in, or any right or intention to acquire, Sidis or Maynard or their securities.
In addition, the company is pleased to announce that it is nearing a milestone with the completion of its first 5,000 meter drill program on the Augustus Lithium property. To date, First Energy has drilled 23 holes on both the Augustus and Canada Lithium prospectuses for a total of 4,063 meters of drilling. To date, Augustus has drilled 12 holes and Canada Lithium Prospect has drilled 11 holes. Both surface and drill exploration to date have produced encouraging results and with this in mind, First Energy will add an additional 5,000 meters to the drill program.
Finally, the company would like unbroken private placement funding from $ 1,000,000The funding consists of the issuance of up to 2,985,074 at $ 0.335 cents per unit. Each unit consists of one common share plus a fill warrant to purchase one additional common share $ 0.40 cents for a period of 24 months
Proceeds will be used for the exploration and development of the Company’s mineral properties and general working capital. One or more existing insiders may be involved in the funding with approval from independent directors. The company is relying on an exemption from the related party requirements under MI 61-101.
Completion of the proposed private placement is subject to obtaining all necessary approvals, including the CSE and other regulatory approvals. The securities are subject to a four month hold period plus one day in accordance with applicable securities laws.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company focused on the acquisition of a multi-commodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral deposits in the precious, base and industrial metals sectors.
The company’s strategy is:
- Acquisition and advancement of projects through early stage prospecting and exploration.
- Find joint venture partners to fund future exploration and project developments.
- Create shareholder value through exploration success.
First Energy will continue to expand its multi-commodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
President & Chief Executive Officer
Neither the Canadian Securities Exchange (CSE) nor its regulator assumes responsibility for the adequacy or accuracy of this press release, and have neither approved nor disapproved the contents of this press release.
Except for historical facts, this press release contains “forward-looking information” within the meaning of applicable Canadian securities laws based on expectations, estimates and projections as of the date of this press release. “Forward-Looking Information” in this press release includes information about the company; and other forward-looking information includes, but is not limited to, information about the intentions, plans and future actions of the parties to the transactions described herein and their terms.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the company’s announcement referenced above; and other risks, as further disclosed in the company’s ongoing disclosure filings at www.sedar.com.
The forward-looking information in this press release reflects the company’s current expectations, beliefs and / or beliefs based on information currently available to the company. In conjunction with the forward-looking information in this press release, the company has made assumptions about the Company’s ability to obtain the required approvals and to complete the above transaction. The company has also assumed that no material events will occur outside the normal course of business of the company. While the company believes that the assumptions made in any forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly, undue reliance should not be placed on such information due to the uncertainty it contains.
SOURCE First Energy Metals Limited
For more information: Please contact the company at: [email protected] or (604) 375-6005