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Fireweed Metals has arranged a private placement to fund this year’s exploration in the Macpass critical minerals district of Yukon. The company currently holds the Macpass zinc-lead-silver project and the Mactung tungsten project within its 977 kmThe initial financing comprises the issuance of approximately 9.1 million common shares at C$1.10 per share and 11.6 million flow-through common shares issued through a charitable donation arrangement.
Shares of Fireweed Metals were trading at C$1.15 apiece by 11:00 a.m. ET for a market capitalization of C$172 million . It traded between C$0.88 and C$1.77 over the past 52 weeks. In a news release on Thursday, Fireweed’s CEO Peter Hemstead confirmed that the offering proceeds will primarily fund the company’s exploration initiatives for 2024, specifically an extensive 14,000-metre drilling and regional exploration program at Macpass.
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