Business
Lion Copper and Gold Closes Oversubscribed US$2.7 Million Convertible Debenture Financing
Vancouver, British Columbia--(Newsfile Corp. - November 6, 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. - November 6, 2025) - Lion Copper and Gold Corp. (CSE: LEO) (OTCQB: LCGMF) (\"Lion CG\", or the \"Company\") is pleased to announce that it has closed its previously announced non-brokered private placement (the \"Debenture Financing\") of secured convertible debentures (\"Debentures\") for gross proceeds of US$2,700,000. The Debentures 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 until November 6, 2026. 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 issued to the purchasers one detachable warrant (a \"Warrant\") for every US$0.0965 of principal amount of the Debentures subscribed for. The Company issued 27,979,274 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 until November 6, 2030. Pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"), the Company advises that one insider who is a director and a control person of the Company participated in the Debenture Financing for the principal amount of US$1,400,000, which constitutes a \"related party transaction\". The Company is relying 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 do not exceed 25% of the Company's market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Debenture Financing, as the details of the Debenture Financing and the participation therein by related parties of the Company were not settl...