Business
Lion One Announces Overnight Marketed Offering
North Vancouver, British Columbia--(Newsfile Corp. - February 7, 2024) - Lion One Metals Limited ...
About this update from Lion One Metals Limited
[{"type":"text","content":"Lion One Announces Overnight Marketed OfferingNorth Vancouver, British Columbia--(Newsfile Corp. - February 7, 2024) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (\"Lion One\" or the \"Company\") announces that it is commencing an overnight marketed public offering of units (the \"Offered Units\") of the Company for anticipated gross proceeds of up to C$10.0 million (the \"Offering\"). The Offering is expected to be completed pursuant to an underwriting agreement (the \"Underwriting Agreement\") to be entered into between the Company, Cantor Fitzgerald Canada Corporation (\"CFCC\"), as lead underwriter and sole bookrunner (the \"Lead Underwriter\"), and a syndicate of underwriters to be determined (collectively with the Lead Underwriter, the \"Underwriters\").The number of Offered Units to be sold, the Offering price (the \"Offering Price\"), and the terms of the Offered Units will be determined in the context of the market and there can be no assurance as to completion of the Offering. In addition, the Company will grant the Underwriters an over-allotment option (the \"Over-Allotment Option\") exercisable, in whole or in part, in the sole discretion of the Underwriters, to purchase up to an additional 15% of the number of Offered Units sold in the Offering for up to 30 days after the closing, on the same terms and conditions as the Offering.The net proceeds received by the Company from the sale of the Offered Units will be used for development and ramp up expenses at the Tuvatu Gold project located in Fiji, as well as for general corporate expenses & purposes.The Offering will be made by way of a prospectus supplement (the \"Prospectus Supplement\") to the Company's existing Canadian short form base shelf prospectus dated May 13, 2022 (the \"Base Shelf Prospectus\"). Upon completion of pricing of the Offering and the signing of the Underwriting Agreement, the Prospectus Supplement will be filed with the securities commissions in Ontario, British Columbia, and Alberta and will be available on SEDAR+ at www.sedarplus.ca. Alternatively, the Prospectus Supplement and related Base Shelf Prospectus may be obtained upon request by contacting the Company or Cantor Fitzgerald Canada Corporation in Canada, attention: Equity Capital Markets, 181 University Avenue, Suite 1500, Toronto, ON, M5H 3M7, email: ecmcanada@c...