Fireweed Metals Announces $61.5 Million Private Placement with Strategic Investment from JX Advanced Metals Corporation
Fireweed Metals Announces $61.5 Million
Private Placement with Strategic Investment
from JX Advanced Metals Corporation
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TSXV:
FWZ
OTCQX:
FWEDF
FSE:
M0G
VANCOUVER, BC
,
March 30, 2026
/CNW/ - FIREWEED METALS CORP. ("
Fireweed
" or the
"
Company
") (TSXV: FWZ) (OTCQX: FWEDF), is pleased to announce a non-brokered private
placement to raise gross proceeds of approximately $61.5 million, with participation from strategic
investors, including JX Advanced Metals Corporation ("
JX
") and the Lundin Family Trusts (as defined
below). Proceeds from the Offering (as defined below) will support the advancement of exploration
and development activities at the Company's Macpass, Mactung, and Gayna projects located in
northern Canada, as well as ongoing planning for regional infrastructure improvements and general
working capital and corporate purposes.
Ian Gibbs, President and CEO of Fireweed Metals
, stated,
"JX Advanced Metals has a long track record of partnering with Lundin Group companies, and we
are very pleased to further strengthen this relationship through their strategic investment in
Fireweed. As a global leader in advanced materials and a key participant in the semiconductor
supply chain, JX brings deep expertise in markets where high-purity materials, including tungsten,
play an important role in enabling next-generation technologies. Their growing presence in the United
States, including a new facility in Mesa, Arizona, further highlights the strategic importance of these
materials to the North American industrial base. We believe their investment underscores Fireweed's
positioning within a critical supply chain supporting the continued growth of advanced semiconductors
and other strategic technologies and industries."
Private Placement
The Company will undertake a non-brokered private placement to raise aggregate gross proceeds
of up to $61.5 million (the "
Offering
"), consisting of up to 14,704,140 common shares of the
Company (the "
Shares
") at a price of $4.18 per Share. The issue price represents a 9% premium to
the closing price of the Shares on the TSX Venture Exchange on March 27, 2026, and a 14%
premium to the 10-day volume-weighted average trading price of the Shares on the TSX Venture
Exchange for the period ended on such date.
Strategic Investor Participation
JX and trusts settled by the late Adolf H. Lundin (the "
Lundin Family Trusts
") are expected to
participate in the Offering.
JX is expected to subscribe for approximately 11,343,294 Shares. Upon completion of the Offering,
JX is expected to hold approximately 11,343,294 Shares, representing approximately 5.0% of the
Company's issued and outstanding Shares on a non-diluted basis, assuming completion of the
Offering.
The Lundin Family Trusts are expected to subscribe for approximately 3,360,846 Shares of the
Company. Upon completion of the Offering, the Lundin Family Trusts are expected to hold
approximately 51,853,509 Shares, representing approximately 22.9% of the Company's issued and
outstanding Shares on a non-diluted basis, maintaining their pro-rata ownership interest in the
Company.
Related Party Transaction
Participation by the Lundin Family Trusts in the Offering will constitute a "related party transaction"
within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in
Special Transactions ("
MI 61-101
"), as a private entity controlled by the Lundin Family Trusts
currently holds more than 10% of the Company's outstanding Shares. The Company expects such
participation to be exempt from the formal valuation and minority shareholder approval requirements
of MI 61-101 pursuant to Sections 5.5(a) and 5.7(1)(a) thereof, as neither the fair market value of
the securities to be issued to the related party nor the consideration to be paid by the related party
will exceed 25% of the Company's market capitalization.
Closing
The Offering is expected to close on or about April 7, 2026, and is subject to execution of definitive
agreements and other customary conditions, including receipt of all necessary regulatory approvals,
including approval of the TSX Venture Exchange.
All securities issued pursuant to the Offering will be subject to a four-month plus one day hold period
under applicable Canadian securities laws.
The securities being offered have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements. This news release does
not constitute an offer to sell or a solicitation of an offer to buy securities in the United States.
About Fireweed Metals Corp.
Fireweed is an exploration company focused on unlocking value in a new critical metals district
located in Northern Canada. Fireweed is 100% owner of the Macpass District, a large and highly
prospective 985 km
2
land package. The Macpass District includes the Macpass zinc-lead-silver
project and the Mactung tungsten project. A Lundin Group company, Fireweed is strongly positioned
to create meaningful value.
Fireweed trades on the TSX Venture Exchange under the trading symbol "FWZ", on the OTCQX
Best Market under the symbol "FWEDF", and on the Frankfurt Stock Exchange under the trading
symbol "M0G".
Additional information about Fireweed and its projects can be found on the Company's website at
FireweedMetals.com
and at
www.sedarplus.ca
ON BEHALF OF FIREWEED METALS CORP.
"
Ian Gibbs
"
CEO
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
Forward Looking Statements
This news release contains "forward-looking" statements and information ("forward-looking
statements"). All statements, other than statements of historical facts, included herein, including,
without limitation, statements relating to the Offering, timing and completion thereof, completion and
use of proceeds thereof, insider participation, MI 61-101 exemptions, regulatory approvals,
statements relating to future work plans, and the potential of the Company's projects, are 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 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 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, the need for regulatory approvals,
the inability to enter into definitive agreements, exploration and development risks, unanticipated
reclamation expenses, 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 laboratory tests, and one-time events. The Company
assumes no obligation to update forward
looking statements or beliefs, opinions, projections or other
factors, except as required by law.
SOURCE Fireweed Metals Corp.
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%SEDAR: 00042438E
For further information:
Alex Campbell, Phone: +1 (604) 689-7842, Email:
CO: Fireweed Metals Corp.
CNW 02:30e 30-MAR-26