How the deal went down - Fireweed Metals on Lundin Family's big investment
(Kitco News) - When the Fireweed Metals-Lundin Family deal suddenly came together, Fireweed CEO Brandon Macdonald had to hustle to Geneva.
This week Macdonald spoke to Kitco Mining correspondent Paul Harris at Mines and Money London.
Yesterday Fireweed Metals announced today a non-brokered private placement of $27 million investment by the Lundin Family in Fireweed. The private placement included lead orders by members of the Lundin family and other key shareholders. The deal was then later increased to aggregate gross proceeds of up to $35 million. The investment makes the Lundin Family collectively Fireweed’s largest shareholder.
Macdonald, who is attending Mines and Money, had to cancel his appointments and fly to Geneva to meet the Lundin Family when the deal came together. Macdonald said he had been in serious discussions with the group for the past three months.
"It's intense. Even when you know the people in the room. There were 11 of them and there's you. It tests the strength of your story and the ability to deliver," said Macdonald.
Fireweed Metals (CVE:FWZ) is advancing its 100%-owned, district-scale, 940-square-km Macmillan Pass project in Yukon, Canada, which is host to the Tom and Jason zinc-lead-silver deposits. Fireweed recently added two new projects, the Mactung tungsten project straddling the Yukon and Northwest Territories border, and the company's recently staked Gayna River zinc-lead-gallium-germanium project in the Northwest Territories.
Coverage of Mines and Money London sponsored by Discovery Group.
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