Fireweed Zinc Announces $5 Million Private Placement and Strategic Investor
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NEWS RELEASE
January 18, 2019 TSXV: FWZ
Fireweed Zinc Announces $5 Million Private Placement and Strategic Investor
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia : FIREWEED ZINC LTD. (“Fireweed” or th e “Company ”) (TSXV:
FWZ) is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up
to CAD$ 5 million. The private placement includes a lead order by strategic investor Teck Resources
Limited (“Teck”).
Highlights
• Teck’s participation in the Offering will increase their interest in the Company from 4.7% to
approximately 9.9%
• The $5 million offering will provide Fireweed with capital to fund a 2019 work program focused
on exploration and resource expansion
Fireweed CEO Brandon Macdonald stated, “Fireweed is delighted to see Teck grow their stake in the
Company to just shy of 10%. This is a strong vote of confidence in the project and management from one
of the world’s preeminent zinc miners. We made significant progress on Macmillan Pass in 2018 and this
new financing will help make 2019 another great year for the Company.”
The Offering will consist of a total of 2,187,500 common shares of the Company at a price of CAD$0.80
per share (“Common Shares”) , 890,000 flow-through common shares of the Company at a price of
CAD$0.95 per share (“Flow-Through Shares ”), and 2,1 87,500 flow-through common shares of the
Company at a price of CAD$1.10 per share through a donation arrangement (“Charity Flow-Through
Shares”) for total gross proceeds of CAD$ 5,001,750. Teck has agreed to purchase 2 ,187,500 Common
Shares of the Company, subject to certain conditions including the successful closing of the Offering.
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. The gross proceeds
from the issuance of all Flow-Through Shares will be used to incur Canadian Exploration Expenses
(“CEE”), and will qualify as “flow-through mining expenditures” under the Income Tax Act (Canada),
which will be renounced to the purchasers of Flow -Through Shares with an effective date no later than
December 31, 201 9 in an aggregate amount no less than the proceeds raised from the issue of the 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. The Common
Shares and Flow-Through Shares issued under the Offering will be subject to a statutory hold period of
four months plus a day following the date of closing.
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About Fireweed Zinc Ltd. (TSXV : FWZ): Fireweed Zin c is a public mineral exploration company
focused on zinc and managed by a veteran team of mining industry professionals. The Company is
advancing its large 544 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned
Tom and Jason zinc -lead-silver deposits with recently announced 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 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 work identified zinc, lead and silver
geochemical anomalies in critical 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”
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.
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 ability
to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for
continued operations, title matters, First Na tions 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, and one -time events.
Additional risks are set out in the Company’s prospectus dated May 9, 2017, and filed under the Company’s profile
on SEDAR at www.sedar.com. Should any one or more risks or uncerta inties materialize or change, or should any
underlying assumptions prove incorrect, actual results and forward -looking statements may vary materially from
those described herein. The Company does not undertake to update forward‐ looking statements or forwar d‐looking
information, except as required by law.