The increased offering consists of two parts for gross proceeds of approximately
16,128,243 flow-through common shares of the Company issued through a charitable donation arrangement ('Premium Flow-Through Shares')
The proceeds from the Offering will be used for exploration and development of the Company's projects in northern
Closing of the Offering is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the
The Company anticipate closing of the Private Placement as soon as practicable subject to the receipt of all necessary regulatory approvals. The Lundin Family Trusts will acquire Common Shares under the Private Placement. Any such participation would be considered to be a 'related party transaction', as defined under Multilateral Instrument 61-101 ('MI 61-101'). The transactions will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any Common Shares issued to, nor the consideration paid, by such persons would exceed 25% of the Company's market capitalization. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the
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Additional information about Fireweed and its projects can be found on the Company's website at FireweedMetals.com and at www.sedarplus.com
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 Company's securities in
Forward Looking Statements
This news release contains 'forward-looking' statements and information ('forward-looking statements'). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to interpretation of the terms of the Offering, the participation of certain existing shareholders, future work plans, the use of funds, and the potential of the Company's projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as 'expects', 'anticipates', 'believes', 'intends', 'estimates', 'potential', 'possible', and similar expressions, or statements that events, conditions, or results 'will', 'may', 'could', or 'should' occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's 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 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, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. There is no assurance that (i) the Company will be able to complete the Offering on the terms set out above, or at all, (ii) that all closing conditions will be satisfied, (iii) the funds raised will be used in the manner outlined above, and (iv) the 2024 exploration initiatives will be carried out as planned, including that a 14,000-metre drilling program will be completed at Macpass. The Company assumes no obligation to update forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.
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