Fireweed Metals - CEO, Brandon Macdonald
CEO, Brandon Macdonald
Source: The Northern Miner
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  • Fireweed Metals (FWZ) has closed its non-brokered offering for gross proceeds of $35.1 million
  • The company issued 31,713,027 shares, 4,672,818 flow-through common shares, and 6,300,000 charity flow-through shares
  • The proceeds will be used primarily for the exploration and development of the company’s projects in northern Canada
  • Fireweed Metals is a mineral exploration company with three projects located in northern Canada
  • Fireweed Metals Corp. (FWZ) opened trading at C$0.96

Fireweed Metals (FWZ) has closed its previously announced offering for gross proceeds of $35.1 million.

The company issued 31,713,027 shares, 4,672,818 flow-through common shares, and 6,300,000 charity flow-through shares.

CEO Brandon Macdonald commented on the capital raise.

“We welcome the Lundin Family as a major cornerstone shareholder and are excited to show them and all our other shareholders what we can do on a well-funded program. We also thank key shareholders such as Larry Childress and Teck for continuing to back us. Fireweed is now financed for our biggest-ever program in 2023 and has our most catalyst-rich year ahead of us.”

The proceeds will be used for the exploration and development of the company’s projects in northern Canada and for general working capital purposes. The gross proceeds from the FT shares will be used on the company’s Zinc projects.

The company will pay finder’s fees totalling $387,806 in cash and 480,435 warrants.

Company insiders acquired a total of 5,119,500 common shares, which constituted a “related party transaction” as defined under Multilateral Instrument 61-101
Closing of the offering is subject to the receipt of all necessary regulatory approvals.

All securities issued will be subject to a statutory four-month hold period.

Fireweed Metals is a mineral exploration company with three projects located in northern Canada: the Macmillan Pass Zinc-Lead-Silver Project, the Mactung Tungsten Project and the Gayna River Zinc-Lead-Gallium-Germanium Project.

Fireweed Metals Corp. (FWZ) opened trading at C$0.96.

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