10:30 AM EDT, 05/28/2025 (MT Newswires) -- Fireweed Metals ( FWEDF ) on Wednesday said it has closed its brokered $46 million private placement financing.

The financing includes 12.5 million critical mineral charity flow-through shares at $2.79 each that raised $35 million and 4.3 million non-critical mineral charity flow-through shares at $2.57 each that raised $11 million.

Proceeds from the brokered financing will be used to advance exploration and development activities at Fireweed's Macpass, Mactung, Gayna and North Canol Infrastructure Improvement projects in northern Canada.

Fireweed also closed an $8.3 million initial tranche of a non-brokered private placement financing. The second and final tranche, which is expected to consist of 3.1 million shares issued to Nemesia, for additional aggregate proceeds of $5.6 million, is expected to close after a meeting of shareholders on June 25.

The company's shares were last seen up $0.08, to $2.08, on the TSX Venture Exchange.

Price: 2.08, Change: +0.08, Percent Change: +4.00