Fireweed Zinc Announces $2.0 Million Private Placement
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NEWS RELEASE
August 26, 2020 TSXV: FWZ
Fireweed Zinc Announces $2.0 Million Private Placement
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 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 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 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”
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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
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 Com pany management.
There is no assurance the Company will be able to complete the Offering on the terms as outlined above, or at all. The Company does not undertake
to update forward‐looking statements or forward‐looking information, except as required by law.