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Fireweed Zinc Announces $2.0 Million Private Placement
VANCOUVER, British Columbia, Aug. 26, 2020 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ) is pleased to announce a non-brokere
About this update from Fireweed Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 26, 2020 (GLOBE NEWSWIRE) -- 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$2.0 million. The Offering will consist of up to 3,174,603 common shares of the Company at a price of CAD$0.63 per share (“Common Shares”) with a half two-year warrant exercisable at CAD$0.95 per share. Fireweed CEO Brandon Macdonald stated, “We welcome the additional demand from strong investors and are glad to add more to our already healthy cash position. These additional funds give us the flexibility to expand this summer’s program, pursue additional engineering studies, or engage in any manner of items on our wish-list, while also adding a comfortable cash surplus in volatile times.” The proceeds from the Offering will be used for exploration and development of the Company’s Macmillan Pass Project in Yukon, Canada, and for general working capital purposes. 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 and managed by a veteran team of mining industry professionals. The Company is advancing its district-scale 544 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 option agreements on large blocks of adjacent claims (MAC, MC, MP, Jerry, BR and NS) which cover exploration targets in the district where pre...