- Fireweed Zinc (FWZ) has announced a non-brokered private placement for gross proceeds of up to $9.68 million
- The offering will consist of a total of 5,714,287 common shares and 5,737,373 charity flow-through shares
- The placement includes lead orders by strategic investors Teck Resources Limited and Ibaera Capital
- Proceeds will be used for exploration and development of the Macmillan Pass Project
- Fireweed Zinc is a mineral exploration company
- Fireweed Zinc Ltd. (FWZ) opened trading at C$0.72 per share
Fireweed Zinc (FWZ) has announced a non-brokered private placement for gross proceeds of up to $9.68 million.
The offering will consist of a total of 5,714,287 common shares priced at $0.70 and 5,737,373 charity flow-through shares priced at $0.99 per share.
The placement includes lead orders by strategic investors Teck Resources Limited and Ibaera Capital. Teck has agreed to purchase 4,285,714 shares. Ibaera has agreed to purchase 3,571,429 shares.
The offering also includes a large individual US shareholder who is significantly increasing his position.
Fireweed CEO Brandon Macdonald stated,
“I am delighted with the investments by existing major shareholders Teck and Ibaera in Fireweed and our Macmillan Pass Project. This is a strong vote of confidence in the merits of the project from one of the world’s pre-eminent zinc miners and a technically savvy investment group. This additional financing will enable us to carry out the largest drill program on the property in the history of the company and carry us through to a game-changing resource update and PEA.”
Proceeds will be used for exploration and development of the Macmillan Pass Project in Yukon, and for general working capital purposes.
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 C$0.72 per share.
