Fireweed Announces Lundin Family Leading $27 Million Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Page 1 of 4
NEWS RELEASE
29 November 2022 TSXV: FWZ
OTCQB: FWEDF
FSE: 20F
FIREWEED ANNOUNCES LUNDIN FAMILY LEADING $27 MILLION PRIVATE
PLACEMENT
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”)
(TSXV: FWZ; OTCQB: FWEDF, formerly known as Fireweed Zinc Ltd.) is pleased to announce
a non-brokered private placement (the “Offering”) for gross proceeds of up to CAD$27,523,500.
The private placement includes lead orders by members of the Lundin family (“Lundins”) and
other key shareholders.
Highlights
• The Lundins’ participation in the Offering makes them collectively Fireweed’s largest
shareholder
• Additional orders from other key shareholders in excess of $5M
• The Offer ing will provide Fireweed with capital to make 2023 the most significant
program ever completed on the Company’s projects
CEO & Investor Statements
Brandon Macdonald, CEO, stated “It is a testament to the quality of Fireweed’s projects and the
efforts of our team that we are able to attract backers like the Lundin family. No strangers to
projects with district potential, the Lundins saw the value in Fireweed’s portfolio, particularly our
flagship Macmillan Pass project, and have now given us one of our strongest endorsements to
date. Together with additional backing from our largest shareholders this Offering gives
Fireweed the ability to deliver a 2023 program unconstrained from capital requirements. I am
excited for the year ahead.”
Adam Lundin stated “The Lundin Family is excited to become a significant shareholder in
Fireweed Metals. We have been impressed with the progress made to date by Brandon and his
team. With the experience we have in the sector, opportunities like this seldomly come around
and we view Fireweed has a district scale opportunity. The recent discovery at Boundary Zone
adds to the solid mineralization characteristics of the Tom and Jason deposits. We look forward
to working with the company to maximize value for all stakeholders involved in this exciting
story.”
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Page 2 of 4
The Offering
The Offering will consist of three parts for gross proceeds of $27,523,500 as follows:
1. 28,275,000 shares (“Shares”) of the Company at a price of CAD$0.74 per Share;
2. 3,000,000 flow-through common shares of the Company at a price of CAD$0.88 per
share (“Flow-Through Shares”); and
3. 3,300,000 flow-through common shares of the Company at a price of CAD$1.20 per
share through a charitable donation arrangement (“Premium Flow-Through Shares”).
The proceeds from the Offering will be used for exploration and development of the Company’s
projects in northern Canada, and for general working capital purposes. The gross proceeds
from the issuance of all Flow-Through and Premium Flow-Through Shares will be used on the
Company’s Zinc projects to incur Canadian Exploration Expenses (“CEE”) and will qualify as
“flow-through critical mineral mining expenditures” under the Income Tax Act (Canada). These
expenses will be renounced by the Company to the purchasers of Flow-Through and Premium
Flow-Through Shares with an effective date no later than December 31, 2022 in an aggregate
amount no less than the proceeds raised from the issue of the Flow-Through and Premium
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.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FW EDF; FSE:20F): Fireweed Metals is a
public mineral exploration company on the leading edge of Critical Minerals project development.
The Company has three projects located in northern Canada:
• Macmillan Pass Zinc-Lead-Silver Project: Fireweed owns 100% of the district-scale 940
km2 Macmillan Pass project in Yukon, Canada, which is host to the Tom and Jason zinc -
lead-silver deposits with current Mineral Resources and a PEA economic study (see
Fireweed news releases dated 10 th January 2018, and 23 rd May 2018, respectively, and
reports filed on www.sedar.com for details) as well as the Boundary Zone, Boundary Zone
West, 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 with known showings and significant upside exploration
potential. The large 2022 drill program utilizing four drills is now complete and assay
results are being announced as they are received and interpreted.
• Mactung Tungsten Project: The Company has a binding Letter of Intent to acquire 100%
interest in the 37.6 km2 Mactung Tungsten Project located adjacent to the Macmillan Pass
Project. Mactung contains historic resources that make it one of the largest and highest-
grade undeveloped tungsten resources in the world. Located in Canada, it is one of the
rare large tungsten resources outside of China. D ue diligence and validation work on
historic data as well as relogging and sampling of historic drill core is underway which
should support a new mineral resource estimate.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Page 3 of 4
• Gayna River Zinc-Lead-Gallium -Germanium Project: Fireweed has 100% of the
128.75 km 2 Gayna River project located 180 kilometres north of the Macmillan Pass
project. It is host to extensive critical minerals mineralization including zinc, gallium and
germanium as well as lead and silver, outlined by 28,000 metres of historic drilling and
significant upside potential. The 2022 field program of airborne LiDAR topographic
surveying and ground geophysics is now complete and data is being interpreted toward
defining 2023 drill targets.
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed
(OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S.
and international companies and is DTC eligible for enhanced electronic clearing and settlement.
The Company is current in its reporting, and undergoes an annual verification and management
certification process. Investors can find Real-Time quotes and market information for the
Company on www.otcmarkets.com. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock
Exchange.
Technical information in this news release has been approved by George Gorzynski, P.Eng.,
Director and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
Additional information about Fireweed and its projects can be found on the Company’s website
at www.FireweedMetals.com and at www.sedar.com.
ON BEHALF OF FIREWEED METALS CORP.
“Brandon Macdonald”
CEO & Director
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s
securities in the United States. The Company’s shares 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.
Cautionary Statements
Forward Looking Statements
This news release contains “forward-looking” statements and information (“forward-looking statements”).
Forward-looking statements are frequently, but not always, identified by words such as "expects”,
"anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and similar expressions, or
statements that events, conditions, or results "will”, "may”, "could”, or "should” occur or be achieved.
Forward-looking statements include, but are not limited to, statements relating to the Offering, the
potential investors, the use of proceeds and the potential of the Company’s projects. Forward-looking
statements are based on the beliefs of Company management, as well as assumptions made by and
information currently available to Company management and reflect the beliefs, opinions, and projections
on the date the statements are made. Forward-looking statements involve various risks and uncertainties
and accordingly, readers are advised not to place undue reliance on forward-looking statements. There
can be no assurance that such statements will prove to be accurate, and actual results and future events
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Page 4 of 4
could differ materially from those anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations include but are not limited to, exploration and
development risks, expenditure and financing requirements, general economic conditions, changes in
financial markets, 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, uncertainties involved in the interpretation of drilling results and
geological tests, and one-time events. There is no assurance that (i) the Company will be able to
complete the Offering on the terms set out above, or at all, or (ii) that the proceeds of the Offering will be
expended as contemplated. The Company does not undertake to update forward‐looking statements or
forward‐looking information, except as required by law.
Contact:
Brandon Macdonald
Phone: (604) 646-8361