Fireweed Zinc Announces $3.6 Million Private Placement
June 14 2021 - 4:57PM
FIREWEED ZINC LTD. (“
Fireweed” or the
“
Company”) (TSXV: FWZ) is pleased to announce a
non-brokered private placement (the “
Offering”)
for gross proceeds of up to CAD$3.60 million. The Offering will
consist of up to 4,000,000 flow through common shares of the
Company at a price of CAD$0.90 per share.
The proceeds from the Offering will be used for
exploration and development of the Company’s Macmillan Pass Project
in Yukon, Canada. The gross proceeds from the issuance of the
Flow-Through Shares will be used to incur Canadian Exploration
Expenses (“CEE”), and will qualify as
“flow-through mining expenditures” under the Income Tax Act
(Canada), which will be renounced to the purchasers of Flow-Through
Shares with an effective date no later than December 31, 2021 in an
aggregate amount no less than the proceeds raised from the issue of
the Flow-Through Shares.
Closing of the Offering 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. All securities issued under the Offering will be
subject to a statutory hold period of four months plus a day
following the date of closing. The Company may pay finder’s fees on
a portion of the Offering, subject to compliance with the policies
of the TSX Venture Exchange and applicable securities
legislation.
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. There is no
assurance the Company will be able to complete the Offering on the
terms as outlined above, or at all. The Company does not undertake
to update forward‐looking statements or forward‐looking
information, except as required by law.
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