- Fireweed Metals (FWZ) is pleased to announce a non-brokered private placement for gross proceeds of up to $27,523,500
- The offering consists of common shares, flow-through shares and charitable flow-through shares
- The proceeds from the offering will be used for the exploration and development of the company’s projects in northern Canada
- Fireweed Zinc is a mineral exploration company advancing its 100 per cent owned Macmillan Pass Project in Yukon
- Fireweed Zinc Ltd. (FWZ) opened trading at $0.79 per share
Fireweed Metals (FWZ) is pleased to announce a non-brokered private placement for gross proceeds of up to $27,523,500.
The private placement includes lead orders by members of the Lundin family and other key shareholders.
Highlights:
- The Lundins’ participation makes them collectively Fireweed’s largest shareholder
- Additional orders from other key shareholders in excess of $5M
- The offering will provide Fireweed with capital to make 2023 the most significant program ever completed on the Company’s projects
Fireweed CEO Brandon Macdonald commented on the offering.
“It is a testament to the quality of Fireweed’s projects and the efforts of our team that we are able to attract backers like the Lundin family. No strangers to projects with district potential, the Lundins saw the value in Fireweed’s portfolio, particularly our flagship Macmillan Pass project, and have given us one of our strongest endorsements to date. Together with additional backing from our largest shareholders, this Offering gives Fireweed the ability to deliver a 2023 program unconstrained from capital requirements. I am excited for the year ahead.”
The offering will consist of three parts for gross proceeds of $27,523,500 as follows:
- 28,275,000 shares at a price of $0.74 per share;
- 3,000,000 flow-through common shares at a price of $0.88 per share
- 3,300,000 flow-through common shares at a price of $1.20 per share through a charitable donation arrangement
The proceeds from the offering will be used for the exploration and development of the company’s projects in northern Canada and general working capital purposes. The gross proceeds from the flow-through and premium flow-through shares will be to incur Canadian Exploration Expenses on the company’s Zinc projects.
All securities issued will be subject to a statutory four-month hold period.
Fireweed Zinc is a mineral exploration company advancing its 100 per cent owned Macmillan Pass Project in Yukon.
Fireweed Zinc Ltd. (FWZ) opened trading at $0.79 per share.