Fireweed Closes $5.0 Million Private Placement with Strategic Investor
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NEWS RELEASE
May 20, 2021 TSXV: FWZ
Fireweed Closes $5.0 Million Private Placement with Strategic Investor
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ)
is pleased to announce closing of its non-brokered private placement (the “ Financing”) announced
April 22, 2021 for proceeds of CAD$5.0 million consisting of 6,250,000 common shares of the Company
(“Shares”) 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. (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
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 Statements
This 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
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securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. S ecurities Act and
applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
This 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. Such
statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations,
exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, the effects
of the pandemic, 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 pric es, relationships
with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry
practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove
incorrect, actual results and forward -looking statements may vary materially fro m those described herein. The Company does not undertake to
update forward‐looking statements or forward‐looking information, except as required by law.