Fireweed Zinc Announces Fully Subscribed $5.0 Million Private Placement with Strategic Investor
April 22 2021 - 8:21AM
FIREWEED ZINC LTD. (“
Fireweed” or the
“
Company”) (TSXV: FWZ) is pleased to announce a
$5,000,000 private placement (the “
Financing”)
through the sale of 6,250,000 common shares of the Company
(“
Shares”) at $0.80 per Share.
Fireweed CEO Brandon Macdonald stated, “Fireweed
welcomes a new strategic institutional investor who has subscribed
for the entirety of the Financing. 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 Yukon, Canada.
Closing of the Financing is subject to certain
customary conditions, including, but not limited to, the receipt of
all necessary regulatory approvals and acceptance of the TSX
Venture Exchange. The Shares will be issued subject to a statutory
hold period of four months plus a day following the date of
closing. No finder’s fees will be paid.
About Fireweed Zinc Ltd. (TSXV:
FWZ): 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 km2 Macmillan Pass Project in Yukon, Canada,
which is host to the 100% owned Tom and Jason zinc-lead-silver
deposits with current Mineral Resources and a PEA economic study
(see Fireweed news releases dated January 10, 2018, and May 23,
2018, respectively, and reports filed on www.sedar.com for
details) as well as the Boundary Zone, Tom North Zone and End Zone
which have significant zinc-lead-silver mineralization drilled but
not yet classified as mineral resources. The project also includes
large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro,
Sol, Ben, and Stump) which cover exploration targets in the
district where previous and recent work identified zinc, lead and
silver prospects, and geophysical and geochemical anomalies in
prospective host geology.
Additional information about Fireweed Zinc and
its Macmillan Pass Zinc Project can be found on the Company’s
website at www.FireweedZinc.com and at www.sedar.com.
ON BEHALF OF FIREWEED ZINC
LTD.
“Brandon Macdonald”
CEO & Director
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Cautionary Statements
Financing Disclosure StatementsThis news release
does not constitute an offer to sell or a solicitation of an offer
to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933 , as amended (the "U.S. Securities Act"), or
any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
Forward Looking StatementsThis news release may
contain “forward-looking” statements and information relating to
the Company and the Macmillan Pass Project that are based on the
beliefs of Company management, as well as assumptions made by and
information currently available to Company management. There is no
assurance the Company will be able to complete the Financing on the
terms as outlined above, or at all; or that the proceeds from the
Financing will be used exclusively for exploration on the Macmillan
Pass Project. The Company does not undertake to update
forward‐looking statements or forward‐looking information, except
as required by law.
Contact:Brandon Macdonald;Phone:
604-646-8361
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