Business
Lion Rock Closes $1M Financing
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2024) - Lion Rock Resources Inc. (TSXV:...
About this update from Lion Rock Resources Inc
[{"type":"text","content":"Lion Rock Closes $1M FinancingVancouver, British Columbia--(Newsfile Corp. - March 12, 2024) - Lion Rock Resources Inc. (TSXV: ROAR) (FSE: KGB) (the \"Company\" or \"Lion Rock\") is pleased to announce that it has closed its previously announced non-brokered private placement of 10,000,000 units of the Company (the \"Units\") at a price of $0.10 per Unit for total gross proceeds of $1,000,000 (the \"Offering\"). Each Unit consists of one common share in the capital of the Company and one non-transferable share purchase warrant (a \"Warrant\"), with each Warrant entitling the holder thereof to acquire one additional common share at a price of $0.20 per share until March 11, 2026.The Company issued 400,000 common shares and 400,000 share purchase warrants (the \"Finder's Warrants\") in payment of finder's fees with respect to the Offering. Each Finder's Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.20 per share until March 11, 2026.The common shares and Warrants comprising the Units, the Finder's Warrants and any common shares issued on exercise of the Warrants and Finder's Warrants are subject to a hold period and may not be traded until July 12, 2024, except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.About Lion Rock Resources Inc. Lion Rock Resources Inc. is a brownfields exploration company focused on the Maybrun Copper-Gold Project in northwestern Ontario, approximately 80 km from New Gold's Rainy River Gold Mine and 15 km from First Mining Gold's Cameron Lake Project. The Company also holds properties prospective for lithium in Ontario and Quebec.On Behalf of the Board R. Dale Ginn, President & Chief Executive Off...