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Fireweed Zinc Announces $ 9.7 Million Private Placement with Strategic Investors, Canadian Business Journal

Not for distribution to US news agencies or dissemination in the US

Vancouver, British Columbia, March 17, 2022 (GLOBE NEWSWIRE) — FIREWEEDZ INCLTD. (“Fireweed” or “Company”) (TSXV: FWZ; OTCQB: FWEDF) is a non-mediated private placement (“”Recruitment”) Total income of up to $ 9.68 million. Private placements include lead orders by strategic investor Teck Resources Limited (“Tech“) And Ivaela Capital (“”Ibaera“).

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  • Teck’s participation in the offering will increase interest in us from 4.9% to about 9.2%.
  • With Ibaera participating in the offering, interest in us will increase from 8.3% to about 11.3%.
  • HNWI, the third investor, has committed an additional $ 2.5 million
  • The offering provides Fireweed with funding to expand the 2022 work program for the Macmillan Pass Project in the Yukon Territory of Canada, providing future resource updates and preliminary economic assessments without further funding. Offers.

Brandon Macdonald, CEO of Fireweed, said: This is a strong confidence resolution on the benefits of the project from one of the world’s leading zinc miners and a tech-savvy investment group. This additional funding will enable us to run the largest drill program in the company’s history, perform breakthrough resource updates and PEAs. “

The offering consists of a total of 5,714,287 shares of our common stock at a price of $ 0.70 per share and our 5,737,373 flow-through common stock at a price of $ 0.99 per share through a donation agreement (“Charity Flow”). Through “stocks”) Total income CAD $ 9,680,000. Teck has agreed to purchase 4,285,714 shares of the Company’s common stock, subject to certain conditions, including the successful termination of the offering. Ibaera has agreed to purchase 3,571,429 shares of the Company’s common stock, subject to certain conditions, including successful offerings. The offering also includes major US shareholders who have significantly increased their positions.

The proceeds from the offering will be used for exploration and development of our Macmillan Pass project in the Yukon Territory, Canada, and for general working capital purposes. The total revenue from the issuance of all flow-through shares will be used to incur Canadian exploration costs (“CEE”) and qualify as “flow-through mining expenditure” under the Income Tax Act (Canada). Purchasers of Flow-Through Shares with an effective date of December 31, 2022 are greater than or equal to the income generated from the issuance of Flow-Through Shares.

Termination of the offering is subject to certain customary conditions, including but not limited to the receipt of all required regulatory approvals and the approval of the TSX Venture Exchange. All securities issued under the offering are subject to a statutory holding period of four months and the day after the closing date.

Fireweed Zinc Ltd. (TSXV: FWZ; OTCQB: FWEDF): Fireweed Zinc is a public mineral exploration company managed by a team of experienced mining experts.The company is advancing a 100% owned district scale of 940km2 Macmillan Pass Project in Yukon Territory, Canada. There are Tom and Jason’s zinc-lead-silver deposits, including current mineral resources and PEA economic surveys (see Fireweed News Release dated 10).th January 2018, and 23rd Zinc-lead-silver mineralization drilled in May 2018, respectively, and for more information in a report submitted to www.sedar.com), and in the Boundary Zone, Boundary Zone West, Tom North Zone, and End Zone. Resources that have been, but have not yet been classified as minerals. This project also contains a large block of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, and Stump). It targets exploration targets in areas where previous and recent work has identified zinc, lead, and silver prospects. , And future host geophysical and geochemical anomalies.

In Canada, Fireweed (TSXV: FWZ) is traded on the TSX Venture Exchange. In the United States, Fireweed (OTCQB: FWEDF) deals with early and developing US and international companies in the OTCQB venture market. The company is currently reporting and undergoes an annual verification and management certification process. Investors can find real-time quotes and market information for the company at www.otcmarkets.com. In Europe, Fireweed (FSE: 20F) is traded on the Frankfurt Stock Exchange.

Additional information about FireweedZinc and its MacmillanPass project, including maps and drill sections, can be found on our website (www.FireweedZinc.com) and www.sedar.com.

FIREWEEDZ INCLTD.on behalf

“”Brandon McDonald

CEO and director

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.

This news release does not constitute an offer to sell or buy our securities in the United States. Our shares have not been and will not be registered under the Securities Act of 1933 (“US Securities Act”) or the State Securities Act. It may not be offered or sold in or to the United States. Unless you are not registered under US securities law and applicable state securities law, or if you are exempt from such registration.

Precautions
This news release contains statements and information about the “future outlook” related to the company and the McMillan Pass project, based on the beliefs of the company’s management, as well as assumptions and currently available information made by the company’s management. May be included. Such statements reflect current risks, uncertainties, and assumptions associated with specific factors. This includes, but is not limited to, exploration and development risks, spending and financing requirements, general economic conditions, changes in financial markets, and the ability to properly and efficiently staff. .. Company operations, working capital adequacy and financing for ongoing operations, rights issues, first-country relations, operational risks, political and economic factors, competitive factors, metal prices, vendors and strategic Partner relationships, government regulation and oversight, permits, seasonal weather, technological changes, industry practices, and one-off events. Additional risks are described in our prospectus dated May 9, 2017 and submitted to SEDAR at www.sedar.com under our profile. If one or more risks or uncertainties become apparent or change, or if the underlying assumptions are found to be incorrect, statements regarding actual results and future prospects are those contained herein. May differ significantly from. There is no guarantee that (i) we will be able to complete the offering under the above conditions, or (ii) the proceeds of the offering will be disbursed as intended, or (iii) the resource quote will be updated. Alternatively, the PEA is complete. We undertake no commitment to update forward-looking statements or forward-looking information except as required by law.

contact address:
Brandon McDonald
Phone: (604) 646-8361


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Fireweed Zinc Announces $ 9.7 Million Private Placement with Strategic Investors, Canadian Business Journal

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