Fireweed Upsizes Financing to $60 Million

/EIN News/ -- NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, May 09, 2025 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQX: FWEDF), is pleased to announce that, due to strong institutional investor demand, it has entered into an agreement with Ventum Financial Corp. as co-lead agent and bookrunner, alongside Haywood Securities Inc., as co-lead agent, on behalf of a syndicate of agents, to increase the Company’s previously announced brokered and non-brokered financing from $45 million to up to $60 million. See press release of the Company dated May 8, 2025.

Pursuant to the amended terms of the financing, the brokered private placement (“Brokered Offering”) will now consist 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 up to $35,000,550.
• 4,281,000 non-critical mineral charity flow-through common shares (“NCM FT Shares”) of the Company at a price of $2.57 per NCM FT Share for aggregate gross proceeds of up to $11,002,170.

The Company has also decided to increase the size of the non-brokered private placement (“Non-Brokered Offering”) which will now consist of:

• 7,777,800 common shares of the Company (“Shares”) at a price of $1.80 per Share, for aggregate gross proceeds of up to $14,000,040.
  

In all other respects, the terms of the Brokered Offering and Non-Brokered Offering remain as previously disclosed in the original press release of the Company related to the financing dated May 8, 2025, a copy of which is available on the Company’s website at FireweedMetals.com and at www.sedarplus.com.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

About Fireweed Metals Corp.

Fireweed is an exploration company focused on unlocking value in a new critical metals district located in Northern Canada. Fireweed is 100% owner of the Macpass District, a large and highly prospective 985 km² land package. The Macpass District includes the Macpass zinc-lead-silver project and the Mactung tungsten project. A Lundin Group company, Fireweed is strongly positioned to create meaningful value.

Fireweed trades on the TSX Venture Exchange under the trading symbol “FWZ”, on the OTCQX Best Market under the symbol “FWEDF”, and on the Frankfurt Stock Exchange under the trading symbol “M0G”.

Additional information about Fireweed and its projects can be found on the Company’s website at FireweedMetals.com and at www.sedarplus.com

ON BEHALF OF FIREWEED METALS CORP.

“Ian Gibbs”

CEO

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.

Cautionary Statements

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 the Brokered Offering and the Non-Brokered Offering, timing thereof, completion and use of proceeds thereof, statements relating to interpretation of drill results, targets for exploration, potential extensions of mineralized zones, geophysical anomalies, future work plans, 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. The Company assumes no obligation to update forward‐looking statements or beliefs, opinions, projections or other factors, except as required by law.

Contact: Alex Campbell

Phone: +1 (604) 689-7842

Email: info@fireweedmetals.com