Fireweed Metals (TSXV:FWZ) raised a total of C$35.1 million in funding in its recent private placement, allowing it to execute on further exploration and development of its projects in Northern Canada. CEO Brandon Macdonald considers it a “challenge and opportunity” to embark on such a large-scale program.
“Last year, 2022, (was) our biggest ever drill program. 2023 might be three times that size. The challenge and opportunity for the team is that we've got a bigger budget than we've ever had before. All the moving parts of trying to execute something that big is exciting for us. We hope it’s exciting for investors to have a scale of a program like that.”
Fireweed closed its C$35.1 million non-brokered private placement on December 21, 2022. The Lundin Family and Associates subscribed for a total of 27 million shares, while other key shareholders also subscribed, including Larry Childress for 3.3 million shares and Teck Resources (TSX: TECK.A ,TSX:TECK.B,NYSE:TECK) for 3.4 million shares.
For further details see:
Fireweed Metals Plans Large Drill Program at Macmillan Pass Zinc Project in 2023