Business
Fireweed Announces $45 Million Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Fireweed Metals Corp.
[{"type":"text","content":"Fireweed Announces $45 Million Financing\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n VANCOUVER, British Columbia, May 08, 2025 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQX: FWEDF), is pleased to announce a brokered and non-brokered financing for up to $45 million from strategic and other investors, including the Lundin Family Trusts, to advance exploration and development activities at the Company’s Macpass, Mactung, Gayna and NCIIP projects located in northern Canada.\n \n\n\n Brokered Private Placement\n \n\n\n The Company is pleased to announce that it has entered into an agreement with Ventum Financial Corp. as co-lead agent and bookrunner, alongside Haywood Securities Inc, as co-lead agent, on behalf of a syndicate of agents (together the “Agents”), pursuant to which the Company will undertake a brokered private placement to raise aggregate gross proceeds of up to $35,002,090 (the “Brokered Offering”).\n \n\n The Brokered Offering will consist of:\n \n\n\n 10,753,000 critical mineral charity flow-through common shares (“CM FT Shares”) of the Company at a price of $2.79 per CM FT Share.\n \n\n 1,946,000 non-critical mineral charity flow-through common shares (“NCM FT Shares”) of the Company at a price of $2.57 per NCM FT Share.\n \n\n\n The proceeds from the Brokered Offering will be used for exploration and development of the Company’s projects in northern Canada. The aggregate gross proceeds raised from the NCM FT Shares (the “NCM Commitment Amount”) will be used before on or before December 31, 2026, for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)) and “flow-through mining expenditures” under the Tax Act (the “NCM Qualifying Expenditures”). The aggregate gross proceeds raised from the CM FT Shares (the “CM Commitment Amount”) will be used on or before December 31, 2026 for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Tax Act and as...