Business
Lion Copper and Gold Announces $2.5 Million Convertible Notes Offering
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2025) - Lion Copper and Gold Corp. (CSE: LEO) (OTCQB: LCGMF) ("Lion CG", or the "Company") is pleased
About this update from Lion Copper And Gold Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - October 29, 2025) - Lion Copper and Gold Corp. (CSE: LEO) (OTCQB: LCGMF) (\"Lion CG\", or the \"Company\") is pleased to announce a non-brokered private placement of secured convertible debentures (\"Debentures\") for gross proceeds of up to US$2,500,000 (the \"Offering\"). The Debentures will bear interest at the rate of 12% per annum and will mature on the date that is 12 months from issuance. The principal amount of the Debentures may be converted into common shares of the Company at US$0.0965 per share, at any time, before the maturity date. Interest may be settled in shares priced at the time of repayment or conversion of the note at the option of the Company. The Company intends to use the proceeds of the Offering for the purchase of lands and associated mineral rights for the Company's Yerington area projects. The repayment of the Debentures will be secured against the lands and mineral rights to be purchased with the proceeds of the Offering. In connection with the sale of the Debentures, the Company will also issue up to 25,906,735 common share purchase warrants (the \"Warrants\") to the purchasers. Each Warrant will entitle the holder to acquire a common share of the Company at a price of US$0.0965 for a period of 60 months from the Closing Date. In connection with the issuance of Debentures to one insider who is a director and a control person of the Company, for the principal amount of US$450,000, which constitutes a \"related party transaction\" under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"), the Company intends to rely on the exemptions from the formal valuation requirements contained in section 5.5(a) and section 5.7(1)(a) of MI 61-101, as the fair market value of the securities issued to the related party will not exceed 25% of the Company's market capitalization. All securities issued pursuant to the Offering will be subject to a statutory hold period of four months from the date of issuance of the Debentures. The securities will also be subject to restrictions on resale under Rule 144 under US Securities laws, which in general requires that the securities be held for six to twelve months prior to being eligible for resale. The securities offered have not been and will not be registered...