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Ibaera Capital Announces Filing of Early Warning Report

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Wilmington, Delaware--(Newsfile Corp. - May 27, 2022) - As required by applicable securities laws, Ibaera Capital Canada Investments LLC ("Ibaera Capital") announces that it acquired 1,271,429 common shares ("Common Shares") of Fireweed Zinc Ltd. ("Fireweed") at a price of Cdn$0.70 per share for a subscription price of Cdn$890,000 as part of a larger private placement by Fireweed (the "Private Placement").

Prior to completion of the Private Placement, Ibaera Capital held 8,550,000 Common Shares which represented 9.6% of the outstanding Common Shares. After giving effect to the Private Placement, Ibaera Capital held 9,821,429 Common Shares which represented 10.7% of the outstanding Common Shares.

The Common Shares were acquired for investment purposes. Ibaera Capital may, in the future and subject to applicable law, acquire or dispose of Common Shares or other securities of Fireweed depending upon a number of factors, including but not limited to general market and economic conditions and other available investment opportunities. In accordance with rights granted by Fireweed to Ibaera Capital in connection with the Private Placement, Ibaera Capital intends to nominate one person for appointment to the board of directors of Fireweed.

A copy of the early warning report is available under Fireweed's SEDAR profile at www.sedar.com. For further information, please contact the following.

James Wallbank
investors@ibaera.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125630