Fireweed Closes $46 Million Brokered Financing and $8.3 Million Initial Tranche of Non-Brokered Financing
Summary
Vancouver, British Columbia: FIREWEED METALS CORP. (Fireweed or the Company) (TSXV: FWZ; OTCQX: FWEDF) is pleased to announce that it has closed its upsized brokered private placement financing of $46 million (the Brokered Offering) and an $8.3 million initial tranche of its upsized non-brokered private placement financing (the Non-Brokered Offering), each first announced on May 8, 2025, to advance exploration and development activities at the Companys Macpass, Mactung, Gayna and North Canol Infrastructure Improvement projects located in northern Canada.The Brokered Offering consisted of the issuance of: 12,545,000 critical mineral charity flow-through common shares (CM FT Shares) of the Company at a price of $2.79 per CM FT Share for aggregate gross proceeds of $35,000,550. The aggregate gross proceeds raised from the CM FT Shares will be used on or before December 31, 2026 for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Tax Act) and as flow-through critical mineral mining expenditures within the meaning of the Tax Act.Concurrently with closing of the Brokered Offering, the Company closed an initial tranche of the Brokered Offering, consisting of the issuance of 4,653,337 common shares of the Company (Shares) at a price of $1.80 per Share for aggregate gross proceeds of $8,376,007.Closing of the second and final tranche of the Non-Brokered Offering, expected to consist of the issuance of 3,124,463 Shares to Nemesia S\xe0rl, a company controlled by trusts settled by the late Adolf H. Lundin (the Lundin Family Trust) for additional aggregate gross proceeds of $5,624,033, is expected to close as soon as practicable after a special meeting of shareholders of the Company to be held on June 25, 2025 (the Special Meeting). Additional details with respect to the matter to be considered at the Special Meeting can be found in the management information circular of the Company which is being delivered to shareholders and will be available under the Companys profile on SEDAR+ in the ordinary course in advance of the Special Meeting.The Company will pay a finders fee of 5% to Pareto Securities AB in connection with certain of the subscriptions introduced to the Corporation under the initial tranche.The securities issued pursuant to the Brokered Offering and the initial tranche of the Non-Brokered Offering are subject to a four-month plus one day hold period under applicable Canadian securities laws commencing today. Important factors that could cause actual results to differ materially from the Companys expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, 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 laboratory tests, and one-time events. The Company assumes no obligation to update forwardlooking statements or beliefs, opinions, projections or other factors, except as required by law.