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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.

 

 

 

 

 


  

 

 

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Fireweed Metals (TSXV:FWZ)

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Developing a world-class critical minerals district in Yukon, Canada

FPX Nickel Announces Share-Based Compensation Grant

FPX Nickel Announces Share-Based Compensation Grant

 
 

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the " Options ") to directors, officers and employees of the Company pursuant to the Company's Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

 
 

  FPX Nickel logo (CNW Group/FPX Nickel Corp.) 

 

The Company also granted an aggregate 750,000 restricted share units (the " RSUs ") to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

 

  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 unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@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 from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

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

 

SOURCE FPX Nickel Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html  

 
 

 

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Shareholders approved the Plan and the issue of Performance Rights to directors at the Company's annual general meeting held on May 14, 2025. The Performance Rights to key personnel were issued on the same terms and conditions as the director Performance Rights, as set out in the notice of annual general meeting released to ASX on April 14, 2025.

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Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to announce the 2025 exploration program is nearing completion at its wholly-owned Adams Plateau Project (the "Project") in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX project.

Gary Thompson, CEO of Silver47, stated: "We are glad to continue our work on Adams Plateau toward defining drill targets on this road-accessible project. The abundance of surface mineralization on the Project is very encouraging for the potential of new and exciting discoveries. The Company has received a 5-year permit for drilling. This year is shaping up to be transformational for the Company with a full season of drilling at the flagship Red Mountain Project and the pending merger with Summa Silver."

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Vertex Minerals Limited  Reward Gold Mine Project Update

Vertex Minerals Limited Reward Gold Mine Project Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX,VTXXF) (OTCMKTS:VTXXF) is pleased to announce that the underground mining operation is on track to be producing high grade gold feed to the recently commissioned gravity gold plant in the coming weeks.

HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

o New Aramine L350D has departed France for the journey to Hill End. Arrival in Orange NSW expected in by 26th August where it will be fitted with an RCT remote control system for open stoping operations.

o Mining the Reward Gold Mine - Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).

o Weekly Gold production Oz's from Stockpiles improving with depth in the stockpiles, with coarser particle size and better process throughput experienced.

- Mine start up

o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

o High voltage cabling installation commences next week, with power up of the system scheduled for 28 July 2025.

o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

o Development Jumbo #1 (Epiroc T1D) is exceeding performance expectations.

o Dewatered of declines well underway.

o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

o DSM screen installed to improve product delivery to Wilfley Table.

o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

- Updated Reward Gold mine mining plan and mine schedule completed.

- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au from a developed airleg stope block. The planned stope width is the same as the interpretation of the mineralisation. (Refer to Table 1 in Appendices 1) (VTX ASX announcement 26/06/23).

Given this stope will take some time to extract, the Vertex geology and Mining Team have additionally brought forward a very high-grade long hole stope to commence mining in August as well. Further optimisations to the mining schedule will continue to be made.

This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

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