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Lion One Announces Closing of Upsized LIFE Offering for Gross Proceeds of $18.7 Million
North Vancouver, British Columbia--(Newsfile Corp. - September 24, 2025) - Lion One Metals Limit...
About this update from Lion One Metals Limited
[{"type":"text","content":"Lion One Announces Closing of Upsized LIFE Offering for Gross Proceeds of $18.7 MillionNorth Vancouver, British Columbia--(Newsfile Corp. - September 24, 2025) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (\"Lion One\" or the \"Company\") is pleased to announce that it has closed its previously announced and upsized non-brokered private placement for gross proceeds of $18,715,153 (the \"LIFE Offering\"). Pursuant to the LIFE Offering, the Company issued 58,484,853 units (the \"Offered Units\") at a price of $0.32 per Offered Unit (the \"Issue Price\"), pursuant to the listed issuer financing exemption available under National Instrument 45-106 - Prospectus Exemptions. Each Offered Unit consisted of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.42 for a period of three years from the date of issuance. Lion One's CEO Ian Berzins stated: \"We're very pleased with the strong demand we received for this upsized private placement. With the equity financing successfully completed today, we can now accelerate the purchase of several key pieces of underground mobile equipment and ensure the completion of the flotation plant in Q1 2026. With the addition of these components we will be well positioned to continue ramping up production at Tuvatu.\"The Company intends to use the net proceeds from the LIFE Offering to fund the development of the Company's 100% owned and fully permitted high grade Tuvatu Gold Project, repayment of principal and interest for the Company's loan facility with Nebari, and for working capital purposes.In connection with the LIFE Offering, the Company paid aggregate finder's fees of $703,468.15 in cash and issued 2,190,462 finders warrants (the \"Finder's Warrants\") to Canaccord Genuity, Couloir Securities, Golden Capital Consulting, Haywood Securities, Leede Financial, Red Cloud Securities, RedPlug, Research Capital, and Ventum Financial, in accordance with the policies of the TSX Venture Exchange (the \"TSX-V\") representing a cash commission equal to 7% of the gross proceeds raised from purchasers introduced to the Company by eligible finders and 7% of the aggregate number of Offered Units sold to purchasers introduced to the Company by eligible...