FE Battery Metals Corp. announced a non-brokered private placement of up to 1,250,000 common shares at CAD 0.40 per share for the gross proceeds of CAD 500,000 and up to 2,666,667 flow-through units at CAD 0.45 per flow-through unit for the gross proceeds of CAD 1,200,000 for the total gross proceeds of CAD 1,700,000 on November 8, 2023. Each flow-through unit consists of one flow-through share and one-half common share purchase warrant.

Each whole warrant will entitle the holder to purchase an additional common share for a price of CAD 0.65 per share for a period of two years from the issue date. As a part of the transaction, the company will pay a finder's fee of 6% in cash to eligible finders in accordance with the policies of the Canadian Securities Exchange. 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 hold period plus one day under applicable securities laws.