FIREWEED ZINC LTD. (TSX-V: FWZ) is pleased to announce closing of its non-brokered private placement announced April 22, 2021 for proceeds of CAD$5.0 million consisting of 6,250,000 common shares of the Company 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.
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.
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We acknowledge the [financial] support of the Government of Canada.