NEMESIA S.À R.L. COMPLETES CORPORATE RESTRUCTURING AND ACQUIRES SHARES OF FIREWEED METALS CORP.

LUXEMBOURG, Oct. 15, 2024 /CNW/ - Nemesia S.à r.l. ("Nemesia"), a private company controlled by trusts settled by the late Adolf H. Lundin, incorporated under the laws of Luxembourg, and residing at 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, and its joint actors, Zebra Holdings and Investments S.à r.l. ("Zebra"), Lorito Doraline S.à r.l. ("Lorito Doraline"), Lorito Floreal S.à r.l. ("Lorito Floreal"), Lorito Arole S.à r.l. ("Lorito Arole") and Lorito Orizons S.à r.l. ("Lorito Orizons"), each of which are private Luxembourg companies controlled by trusts settled by the late Adolf H. Lundin and residing at 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announce today that they had completed an internal corporate restructuring pursuant to which Nemesia acquired common shares of Fireweed Metals Corp ("Fireweed"). The transactions were carried out pursuant to a private arrangement agreement made effective today among Nemesia and each of Zebra, Lorito Doraline, Lorito Floreal, Lorito Arole and Lorito Orizons.  

Prior to the restructuring Nemesia held 7'920'000 common shares or 4.54% of the issued capital of Fireweed and as part of the restructuring acquired 13'875'000 common shares or 7.06% from Zebra and 2'975'000 common shares each from Lorito Doraline, Floreal, Arole and Orizons each for a total of 11'900'000 common shares or 6.82% of the then issued and outstanding common shares of Fireweed. Zebra, Lorito Doraline, Floreal, Arole and Orizons no longer hold any shares of Fireweed. As a result of the corporate restructuring, Nemesia now holds a total of 33'695'000 common shares of Fireweed or approximately 18.78% of the issued and outstanding common shares of Fireweed.

Notwithstanding the restructuring and their post-restructuring positions, Zebra, Lorito Doraline, Lorito Floreal, Lorito Arole and Lorito Orizons continue to be considered as joint actors with Nemesia.

Nemesia acquired the common shares of Fireweed for investment purposes and may from time to time make future investments in or dispose of securities of Fireweed depending upon the business and prospects of Fireweed and depending upon future market conditions. 

A copy of the Early Warning Report to be filed pursuant to National Instrument 62-103 may be obtained from Barry Baker, 1-604-603 1575.

SOURCE Nemesia S.a.r.l.

For further information please contact: Aksel Azrac, Telephone Number: + 41 22 595 1875