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Lion One Announces Conditional Approval of the Non-Brokered Private Placement with Arete Capital
North Vancouver, British Columbia--(Newsfile Corp. - March 20, 2026) - Lion One Metals Limited ...
About this update from Lion One Metals Limited
[{"type":"text","content":"Lion One Announces Conditional Approval of the Non-Brokered Private Placement with Arete CapitalNorth Vancouver, British Columbia--(Newsfile Corp. - March 20, 2026) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (\"Lion One\" or the \"Company \") is pleased to announce receipt of conditional approval from the TSX Venture Exchange (the \"TSXV\") for the non-brokered private placement financing (the \"Offering\") pursuant to the subscription agreement dated December 30, 2025 between Arete Capital Advisor Pty Ltd (\"Arete\") and the Company (the \"Subscription Agreement\"). The Company anticipates closing the Offering on March 27, 2026. Concurrently with the closing of the Offering, the Company and Arete will enter into an investor rights agreement (the \"Investor Rights Agreement\") and a management services agreement (the \"Management Services Agreement\"). The OfferingPursuant to the Subscription Agreement, Arete has subscribed for 44,264,800 units at a price of C$0.34 per unit for gross proceeds to the Company of C$15,050,032, with each unit consisting of one common share (the \"Common Shares\") and one common share purchase warrant (the \"Warrants\"). Each Warrant enables the subscriber to acquire one Common Share at a price of C$0.39 for a period of three years following the closing of the Offering. The Common Shares being purchased represent 9.9% of the Company's outstanding Common Shares on a pro forma basis, not giving effect to the exercise of the Warrants. Arete and its principals do not hold any other securities of Lion One. Arete has agreed not to acquire any additional Common Shares (including upon exercise of the Warrants) that would cause it to hold more than 10% of the Company's outstanding Common Shares without the prior written approval of the TSXV following the clearing of personal information forms by all insiders of Arete. Furthermore, Arete has acknowledged and agreed in the Investor Rights Agreement that in accordance with the policies of the TSX-V, disinterested shareholder approval will be required for Arete to hold more than 20% of the Company's outstanding Common Shares. The Company intends to use the net proceeds from the Offering to fund several strategic initiatives at the Tuvatu Alkaline Gold Project in Fiji (\"Tuvatu Project\") intended to address critical operational constraints that limit th...