Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Fireweed Zinc (FWZ) has announced that a strategic investor has subscribed to the entirety of the company’s $5 million private placement
  • The proceeds will be used for general capital purposes, cash reserves for future development, and exploration and development of the company’s Macmillan Pass Project in the Yukon
  • Closing of the private placement financing is subject to the approval of the TSXV
  • Fireweed Zinc is a public mineral exploration company focused on zinc-lead-silver
  • Fireweed Zinc (FWZ) is up 6.25 per cent and is currently trading at $0.85 per share

Fireweed Zinc (FWZ) has announced that a strategic investor has subscribed to the entirety of the company’s $5 million private placement.

The financing was completed through the sale of 6,250,000 common shares at $0.80 per share.

Fireweed CEO Brandon Macdonald stated,

“These funds are an important first step as we build toward our ambitious 2021 plans and we are encouraged that the financing has been placed to a group who has conducted extensive due diligence and supports our long term strategy for the Macmillan Pass Project.”

The proceeds from the offering will be used for general working capital purposes, cash reserves for future development, and exploration and development of the company’s Macmillan Pass Project in the Yukon.

Closing of the private placement financing is subject to the approval of the TSXV.

Fireweed Zinc is a public mineral exploration company focused on zinc-lead-silver and managed by a veteran team of mining industry professionals.

The company is advancing its district-scale 940 km Macmillan Pass Project in the Yukon. The project is host to the wholly-owned Tom and Jason zinc-lead-silver deposits as well as the Boundary Zone, Tom North Zone and End Zone, which have significant zinc-lead-silver mineralization drilled but are not yet classified as mineral resources.

Fireweed Zinc (FWZ) is up 6.25 per cent and is trading at $0.85 per share as of 1:54 pm ET. 

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.