Lion One Pronounces Upsize of Brokered Non-public Placement to $10 Million

Article content material

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

NORTH VANCOUVER, British Columbia, July 19, 2024 (GLOBE NEWSWIRE) — Lion One Metals Restricted (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Firm”) is happy to announce that it has entered into an amended settlement with Eight Capital as lead agent (the “Agent”), to upsize the beforehand introduced non-public placement. In reference to the upsized providing, the Firm will subject as much as 27,027,027 items of the Firm (the “Items”) at a value of $0.37 per Unit (the “Challenge Value”) for mixture gross proceeds of as much as $10,000,000 pursuant to the listed issuer financing exemption out there underneath Nationwide Instrument 45-106 – Prospectus Exemptions (the “Providing”), in every of the Provinces of Canada apart from Quebec. Every Unit will consist of 1 widespread share of the Firm (a “Share”) and one widespread share buy warrant (a “Warrant”). Every Warrant will entitle the holder thereof to amass one Share at an train value of $0.50 for a interval of three years from the date of issuance.

Article content material

The Firm will make out there an providing doc regarding the Providing (the “Providing Doc”) which will probably be accessible underneath the Firm’s profile at www.sedarplus.ca and at https://liononemetals.com. Potential traders within the Providing ought to learn the Providing Doc earlier than investing choice.

The Providing is anticipated to shut on or round July 26, 2024 (the “Closing Date”). Closing of the Providing is topic to sure customary circumstances together with receipt of all essential approvals together with satisfaction of itemizing circumstances of the TSX Enterprise Alternate.

The Firm intends to make use of the online proceeds from the Providing for working capital and normal company functions.

This information launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to promote any Shares in the USA. The securities to be bought within the Providing haven’t been and won’t be registered underneath the U.S. Securities Act or any state securities legal guidelines and will not be provided or bought inside the USA or to U.S. Individuals until registered underneath the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration is offered.

Article content material

Article content material

About Lion One Metals Restricted

Lion One Metals is an rising Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Venture in Fiji. The Tuvatu challenge contains the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Firm additionally has an intensive exploration license overlaying the complete Navilawa Caldera, which is host to a number of mineralized zones and extremely potential exploration targets.

On behalf of the Board of Administrators of
Lion One Metals Restricted
“Walter Berukoff”
Chairman and CEO

For additional data
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
E-mail: data@liononemetals.com
Web site: www.liononemetals.com

Neither TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this launch.

Ahead-Wanting Data

This information launch accommodates ahead‐wanting statements and ahead‐wanting data inside the which means of relevant securities legal guidelines. All statements apart from statements of historic truth could also be ahead‐wanting statements or data. Ahead-looking statements are incessantly recognized by such phrases as “might”, “will”, “plan”, “anticipate”, “anticipate”, “estimate”, “intend” and related phrases referring to future occasions and outcomes. The ahead‐wanting statements and knowledge are based mostly on sure key expectations and assumptions made by administration of the Firm. Ahead-looking statements made on this information launch embody statements relating to anticipated completion of the Providing and debt settlement, and the proposed use of proceeds of the Providing. Though administration of the Firm believes that the expectations and assumptions on which such forward-looking statements and knowledge are based mostly are cheap, undue reliance shouldn’t be positioned on the ahead‐wanting statements and knowledge since no assurance will be provided that they’ll show to be appropriate.

Article content material

Ahead-looking statements and knowledge are supplied for the aim of offering details about the present expectations and plans of administration of the Firm regarding the long run. Readers are cautioned that reliance on such statements and knowledge will not be applicable for different functions, similar to making funding selections. Precise outcomes might differ materially from these at the moment anticipated as a consequence of plenty of components and dangers, together with, with respect to the Providing and debt settlement, the circumstances of the monetary markets, availability of financing, timeliness of completion of the Providing, and the timing of TSX Enterprise Alternate approval; and with respect to the usage of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and improvement, fluctuating commodity costs, and aggressive, as described in additional element in our latest securities filings out there at www.sedarplus.ca, together with the Providing Doc. Accordingly, readers shouldn’t place undue reliance on the ahead‐wanting statements and knowledge contained on this information launch. Readers are cautioned that the foregoing listing of things just isn’t exhaustive. The ahead‐wanting statements and knowledge contained on this information launch are made as of the date hereof and no endeavor is given to replace publicly or revise any ahead‐wanting statements or data, whether or not on account of new data, future occasions or in any other case, until so required by relevant securities legal guidelines. The forward-looking statements or data contained on this information launch are expressly certified by this cautionary assertion.

Article content material