North Vancouver, British Columbia--(Newsfile Corp. - July 8, 2026) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) ("Lion One" or the "Company") is pleased to announce that as a result of strong investor demand, the Company has increased the size of its previously announced non-brokered private placement of units (the "Units") from 23,076,923 Units to 26,923,076 Units for total gross proceeds of up to $3.5 million (the "Private Placement"). Each offered Unit consists of one common share in the capital of the Company (the "Common Shares") and one Common Share purchase warrant (the "Warrants"), each such Warrant exercisable at a price of $0.175 per Common Share and expiring 36 months from the date of issue.
On June 29, 2026, the Company announced the closing of the first tranche of the Company's previously announced non-brokered private placement offering of convertible debenture units of the Company (the "Debenture Units") for total gross proceeds of $12,500,000 (the "Offering") and the Private Placement for gross proceeds of $2,788,184.75. Closing of the second tranche of the Offering and the upsized Private Placement is expected to occur on July 10th, 2026.
The Company intends to use the net proceeds from the Offering and the Private Placement to satisfy upcoming payment obligations under the Company's senior secured loan facility (the "Facility") with Nebari Gold Fund I, LP, Nebari Natural Resources Credit Fund I, LP, and Nebari Natural Resources Credit Fund II, LP (collectively, "Nebari") and cure the Company's ongoing working capital covenant default under the Facility. Any additional proceeds will be used for general corporate and working capital purposes.
Closing of the second tranche of the Offering and upsized Private Placement is subject to certain customary conditions including receipt of all necessary approvals, including satisfaction of the listing conditions of the TSX Venture Exchange ("TSXV"). The Offering and the Private Placement may be closed in one or more tranches. All securities issued in connection with the Offering and the Private Placement will be subject to a statutory hold period expiring four months and one day after the issuance thereof. Any participation by insiders in the Offering or Private Placement will constitute a related party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.