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Lions Bay Announces Underwriting of Elementos Placement as Step in the Creation of a Large Diversified Tin Company
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2018) - Lions Bay Capital Inc. (TSXV: ...
About this update from Lions Bay Capital, Inc.
[{"type":"text","content":"Lions Bay Announces Underwriting of Elementos Placement as Step in the Creation of a Large Diversified Tin CompanyVancouver, British Columbia--(Newsfile Corp. - July 31, 2018) - Lions Bay Capital Inc. (TSXV: LBI) (\"Lions Bay\" or \"the Company\") advise the Company has agreed to underwrite a placement of 200 million shares in Elementos Ltd at A$0.006 cents a share to raise A$1.2 million. The placement is expected to be sub underwritten with closing in September. Lions Bay will be paid a fee for arranging the Elementos placement, as well as for corporate advisory services, of 100 million warrants over new Elementos shares exercisable at $0.007 per share until 30 June 2020.Elementos is listed on the Australian stock exchange and has announced it is acquiring the advanced Oropesa tin deposit from Eurotin Inc (TSXV) in exchange for the issue of 1,000 million shares in Elementos. These shares will be distributed pro-rata to Eurotin shareholders. As a 12.5% shareholder in Eurotin, Lions Bay will receive over 100 million Elementos shares in the enlarged entity. The CEO of Lions Bay, Mr John Byrne commented, \"This latest move is a key step in creating the platform for growth in Lions Bay. We are pleased to instigate and contribute to the development of a new global tin company at a time when institutional investors are looking for strategic opportunities in this area. Upon completion of the acquisition of the Oropesa project, Elementos will become one of the five cornerstone investments of Lions Bay.\"The four others are Jervois Mining Ltd; Kalina Power Ltd; Montan Mining Corporation and Consolidated Potash Corporation (unlisted at this time).\"Jervois Mining is active in the nickel-cobalt sector and this week announced a strategic shareholding in TSX listed eCobalt Solutions. Kalina Power is moving forward with the roll out of its proprietary power technology and is focused on projects in North America. Montan Mining has gold mining interests in Peru, including a processing plant which is expected to be recommissioned in the near future. Consolidated Potash owns the rights to a proprietary membrane technology with applications in the recovery of potash and other minerals and is expected to be listed early next year.\"The Lions Bay book is solid and growing,\" Mr Byrne said. He added, \"We anticipate these investments will produce abo...