11:21 AM EDT, 06/21/2024 (MT Newswires) -- Fireweed Metals ( FWEDF ) said Friday it raised $43 million as it closed a private placement of flow-through and common shares.

The company issued about 12.99-million common shares at $1.10 per share; 909,090 flow-through shares issued at $1.55 apiece; and 15.83-million charity flow-through shares priced at $1.73 each.

The Lundin Family Trusts, through their company Nemesia S.a.r.l., subscribed for 5 million shares and Larry Childress for about 3.4 million shares.

The company plans to use the proceeds for the exploration and development of its projects in northern Canada, and potentially general working capital purposes.

The company's shares were last seen up $0.03 to $1.20 on the TSX Venture Exchange.

Price: 1.20, Change: +0.03, Percent Change: +2.56