Fireweed Zinc Ltd. (TSXV:FWZ) announced a non-brokered private placement of 2,187,500 common shares at a price of CAD 0.80 per share for proceeds of CAD 1,750,000 and 890,000 flow-through common shares at a price of CAD 0.95 per share for proceeds of CAD 845,500 for total gross proceeds of CAD 2,595,500 led by returning investor Teck Resources Limited (TSX:TECK.B) on January 18, 2019. Teck Resources Limited (TSX:TECK.B) will issue for 2,187,500 common shares. Pursuant to the transaction, Teck Resources Limited (TSX:TECK.B) stake will increase from 4.7% to 9.9%.

The closing of transaction is subject to certain customary conditions including the acceptance of TSX Venture Exchange. All securities issued in the transaction are subject to hold period of four months plus one day from the date of closing.