Fireweed Closes $5.0 Million Private Placement with Strategic Investor
May 20 2021 - 4:30PM
FIREWEED ZINC LTD. (“
Fireweed” or the
“
Company”) (TSXV: FWZ) is pleased to announce
closing of its non-brokered private placement (the
“
Financing”) announced April 22, 2021 for
proceeds of CAD$5.0 million consisting of 6,250,000 common shares
of the Company (“Shares”) at $0.80 per Share with a single
strategic investor.
The proceeds from the Financing 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 remains subject to
acceptance by the TSX Venture Exchange. All Shares issued under the
Financing will be subject to a statutory hold period of four months
plus a day following the date of closing. No finder’s fee was
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 including maps and drill sections
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
ContactBrandon MacDonaldPhone:
(604) 646-8361
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
Offering 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. Such
statements reflect the current risks, uncertainties and assumptions
related to certain factors including but not limited to, without
limitations, exploration and development risks, expenditure and
financing requirements, general economic conditions, changes in
financial markets, the effects of the pandemic, the ability to
properly and efficiently staff the Company’s operations, the
sufficiency of working capital and funding for continued
operations, title matters, First Nations relations, operating
hazards, political and economic factors, competitive factors, metal
prices, relationships with vendors and strategic partners,
governmental regulations and oversight, permitting, seasonality and
weather, technological change, industry practices, and one-time
events. Should any one or more risks or uncertainties materialize
or change, or should any underlying assumptions prove incorrect,
actual results and forward-looking statements may vary materially
from those described herein. The Company does not undertake to
update forward‐looking statements or forward‐looking information,
except as required by law.
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