Fireweed Closes Previously Announced Offering for Total Proceeds of $35 Million
Summary
These expenses will be renounced by the Company to the purchasers of Flow-Through and Premium Flow-Through Shares with an effective date no later than December 31, 2022 in an aggregate amount no less than the proceeds raised from the issue of the Flow-Through and Premium Flow-Through Shares.The Company will pay finders fees in compliance within the policies of the TSX Venture Exchange and applicable securities legislation, to arms length finders in connection with subscriptions from subscribers introduced by them, totaling $387,806 and 480,435 warrants exercisable for 12 months from the date of issuance to acquire common shares of the Company at an exercise price of $0.80 per share.Insiders of the Company acquired an aggregate of 5,119,500 Common 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). 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 Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F): Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development. The 2022 field program of airborne LiDAR topographic surveying and ground geophysics is now complete and data is being interpreted toward defining drill targets.In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.Technical information in this news release has been approved by George Gorzynski, P.Eng., Director and a Qualified Person as defined under Canadian National Instrument 43-101.Additional information about Fireweed and its projects can be found on the Companys website at FireweedMetals.com and at www.sedar.com.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.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Companys securities in the United States. Important factors that could cause actual results to differ materially from the Companys expectations include but are not limited to, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Companys 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, uncertainties involved in the interpretation of drilling results and geological tests, and one-time events.