As disclosed in a news release Monday, this financing round included lead orders by members of the Lundin family, who did not hold any shares previously, as well as other key shareholders. The Lundins’ participation in the offering would make them collectively Fireweed’s largest shareholder. Orders from other key shareholders are expected to reach over C$5 million.
Since that announcement, the financing has attracted plenty of investor interest, as the share placement has been substantially oversubscribed. As a result, Fireweed will now issue 31.2 million common shares, 4.9 million FT shares and 6.3 million premium FT shares, all at the same price, for proceeds of up to C$34.9 million.
The funds will provide capital for what the company is calling the “most significant” exploration program ever initiated on its projects in northern Canada, headlined by the district-scale Macmillan Pass project located approximately 372 km…
