Fireweed Zinc Closes $5.18 Million Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Fireweed Zinc LTD. (" Fireweed " or the " Company ") (TSXV: FWZ; OTCQB: FWEDF; FSE: 20F) is pleased to announce closing of the non-brokered private placement (the " Offering ") first announced November 24, 2021 for total gross proceeds of CAD$5,178,400. The Offering consisted of 6,473,000 flow-through common shares of the Company at a price of CAD$0.80 per share (" Flow-Through Shares ").

Highlights

$5.18 million Offering, substantially over-subscribed over initial $3.6M opening
Financing will allow Fireweed to secure service contractors including drillers early for the 2022 Macmillan Pass Project (Yukon) work program

Fireweed CEO Brandon Macdonald stated, "Thanks to strong investor demand we are able to close this financing on proceeds 45% higher than what we opened on despite challenging market conditions. We felt it was important to raise money early for next season because it is expected that there will again be a shortage of drillers and other service contractors. Having money in the bank now allows us first choice of the best contractors for next year and will allow our highly skilled technical team ample time to plan an effective 2022 exploration program."

The proceeds from the Offering will be used for exploration of the Company's Macmillan Pass Project in Yukon, Canada; and specifically will be used to incur Canadian Exploration Expenses (" CEE ") that qualify as "flow-through mining expenditures" under the Income Tax Act (Canada), all of which will be renounced to investors. The Company will pay finders fees in compliance with the policies of the TSX Venture Exchange and applicable securities legislation, to arm's length finders in connection with subscriptions from subscribers introduced by them, totaling $103,704 and 129,630 warrants exercisable for 12 months from the date of issuance to acquire common shares of the Company at an exercise price of $0.70 per share.

Insiders of the Company acquired an aggregate of 22,500 Flow Through Shares in the Offering, which participation constituted a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company's market capitalization. As required by MI 61-101, the Company advises that it expects to file a material change report relating to the Offering less than 21 days from completion of the Offering, as the nature of the related party transaction is relatively immaterial, and was not necessary to complete the Offering, and can generally be considered reasonable in the circumstances.

This Offering remains subject to final approval 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.

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 km ² 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.

In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com . In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange .

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
604-646-8361

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. Securities 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 prices, 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 from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

News Provided by GlobeNewswire via QuoteMedia

Fireweed Zinc TSXV:FWZ Base Metals Investing

Grid Battery Metals Drilling Update on its Clayton Valley Lithium Project

(TheNewswire)

Coquitlam, BC September 26, 2024 TheNewswire Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce that a reverse circulation drilling program is well under way on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine. The Company has completed the drilling of its first hole to a depth of over 870 feet, with the remaining drill holes proposed to a maximum depth of 1500 feet.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Quetzal Copper Receives Drill Permit for Princeton Copper Project, British Columbia

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") is pleased to provide an update that it received a permit that allows drilling to commence at the Company's Princeton Copper Project in British Columbia, Canada. The 11,500-hectare property sits between the Hudbay Minerals and Mitsubishi owned Copper Mountain Mine and the town of Princeton.

CEO Matt Badiali said, "Princeton is the project that originally convinced us to create Quetzal Copper. It checks all the boxes for a potential home run project: next to an operating mine, high-grades in historic samples, and drive-up/drive-home targets. Despite being next to a world-class mine, the key targets remain undrilled and present an exciting opportunity for Quetzal shareholders. Historically, the targets were spread over a series of mining claims, worked independently. We are thrilled to have all the claims united now and are moving rapidly to commence drilling a soon as we can."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Drilling Has Started at Prismo Metals' Palos Verdes Project

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) ("Prismo" or the "Company") is pleased to announce that drilling at its Palos Verdes project in Mexico has started. Hole PV-24-34 of this collaborative drilling program with Vizsla Silver Corp's (TSXV:VZLA) ("Vizsla") was collared on Vizsla's property. The planned length of the first hole is 250 meters out of a total expected 1,250 meters in the first phase of the program now underway

Dr. Craig Gibson, Co-Founder and Chief Exploration Officer of the Company explained: "The goal of the first phase of drilling is designed to explore the vein system to the west of the fault below the zone of bonanza grade intercepts from the previous campaigns. We expect the first hole to cut both the Palos Verdes vein as well as the higher gold-silver vein about 50 meters downdip from the previous intersections. Assays reported from last year's drilling include hole PV-23-25 with 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 meters, or 11,520 g/t silver equivalent - the highest-grade intercept recorded at the project to date (see News Release of July 27, 2023)."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

FPX Nickel Announces Management Appointments to Support the Advancement of the Baptiste Nickel Project

FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointments of Nigel Fisher as Director, Environment and Jarett Lalonde as Director, Government & Public Affairs for the Company. Mr. Fisher will lead the advancement of environmental and regulatory programs for FPX projects, while Mr. Lalonde will lead the Company's public communications and government relations strategies.

"We are excited to grow our team with Nigel and Jarett," commented Tim Bekhuys , FPX's Senior Vice-President, Sustainability & External Relations. "Mr. Lalonde has a proven track record as a trusted government relations advisor to corporations, governments and nonprofits, and brings a wealth of knowledge and strategic insight to our team. Mr. Fisher has been instrumental in permitting and advancing many of British Columbia's largest mines, including most recently, the Blackwater and Eskay Creek mines, and will lead our Environmental Permitting and Assessment for the Baptiste Project."

Mr. Fisher brings 20 years' experience leading environmental assessments, permitting and management systems, developing and executing on regulatory strategy and advancing governance and funding agreements with Indigenous governments across British Columbia . Mr. Fisher has held progressively senior roles with New Gold, Teck Resources, Woodfibre LNG, and most recently, Skeena Resources as Director of Environment and Regulatory Affairs. In his prior roles, he successfully obtained multiple regulatory approvals for large-scale resource projects while maintaining compliance with existing and changing legislation.

Mr. Lalonde is a highly regarded public affairs leader with over 20 years' experience in the natural resources, technology, and regulated products sectors. In his most recent role as Global Head of Product Policy at Shopify, Mr. Lalonde was instrumental in crafting compelling public affairs narratives for the company's diverse product offerings and spearheading engagement with policy makers across North America and Europe. Before joining Shopify, he worked with Global Public Affairs, a leading government relations and strategic communications firm, where he performed advisory work for numerous companies advancing large-scale natural resource projects in British Columbia and across Canada. Mr Lalonde previously served as Chief of Staff to the Attorney General & Minister of Justice for the province of British Columbia , and as Policy Advisor to the Minister of Natural Resources Canada.

Stock Option Grant

FPX has granted 775,000 stock options to certain employees of the Company. The stock options are exercisable at a price of $0.35 per share for a five-year period commencing on September 23, 2024 .

Market Making Services

Further to its news release on August 1, 2024 , the Company has engaged the services of Insight Capital Partners Inc. (" Insight ") and its market making service provider, ICP Securities Inc. (" ICP ") (the " Engagements ") effective August 1, 2024 .

Pursuant to an agreement (the " Consulting Agreement ") between the Company and Insight, Insight will provide capital markets consulting services, including providing the Company with advice and information regarding trading activity, for a term of twenty-four (24) months, provided that after a period of four (4) months either party may terminate the Consulting Agreement on thirty (30) days notice.

In addition, pursuant to an agreement (the " Market Making Agreement ") between the Company and ICP, the Company has engaged ICP to provide market making services. As previously announced, ICP will provide automated market making services, including use of its proprietary algorithm, ICP Premium ^TM , in compliance with the policies and guidelines of the TSX Venture Exchange and applicable securities laws. The Market Making Agreement is for an initial term of four (4) months (the " Initial Term ") and shall be automatically renewed for subsequent one (1) month terms (each subsequent one-month term called an " Additional Term ") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable.

As previously disclosed, there are no performance factors contained in the Consulting Agreement and no stock options or other compensation are being granted in connection with the Engagements. Both Insight and ICP are at arm's length to the Company. Insight and ICP do not have any interest, directly or indirectly, in FPX Nickel or its securities or any right or intent to acquire such an interest at this time; however, Insight, ICP and its clients may acquire an interest in the securities of the Company in the future.

ICP's market-making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 408 km ² , west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl'azt'en Nation, Binche Whut'enne, Yekooche First Nation, and Takla Nation .

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same distinctive style of nickel-iron mineralization. For more information, please view the Company's website at www.fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking ‎information" within the meaning of applicable Canadian securities laws. These statements address ‎future events and conditions and so involve inherent risks and uncertainties, as disclosed in the ‎Company's periodic filings with Canadian securities regulators. Actual results could differ materially ‎from those currently projected by management at the time of writing due to many factors the majority ‎of which are beyond the control of FPX and its management. In particular, this news release contains ‎forward-looking statements pertaining, directly or indirectly, to the following: the duration of the ‎Consulting Agreement and the Market Making Agreement, and the services provided thereunder. These statements speak only ‎as of the date of this release or as of the date specified in the documents accompanying this release, as ‎the case may be. The Company does not assumes the obligation to update any forward-looking ‎statement except as expressly required by applicable securities law.‎

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the ‎adequacy or accuracy of this release.‎

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/23/c9666.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Fireweed Zinc Closes $5.18 Million Private Placement

Latest News

Latest Press Releases

Related News

TOP STOCKS