Lion Rock closes $5.31-million private placement

Executive Summary

• Lion Rock Resources Inc. closed a non‑brokered private placement of 26,585,281 units at C$0.20 per unit, generating gross proceeds of C$5,317,056.
• Each unit includes one common share and one non‑transferable warrant exercisable at C$0.30 per share until Sept. 15, 2027, with acceleration provisions tied to the TSX Venture Exchange price.
• Proceeds will fund payment obligations, the Volney project work program, and general working capital; no finders’ fees were paid.

Key Details

• Units sold: 26,585,281 units (each = 1 common share + 1 warrant).
• Price per unit: C$0.20.
• Total gross proceeds: C$5,317,056.
• Warrant terms: Exercise price C$0.30 per share; expiry Sept. 15, 2027 unless accelerated. Acceleration triggers if TSX‑V shares trade ≥ C$0.40 for five consecutive days; warrants then expire 30 calendar days after notice (or earlier at company discretion).
• Hold period: Units and any shares issued upon warrant exercise are restricted from trading until Jan. 16, 2026, subject to securities law exceptions.
• Use of proceeds: Finance payment obligations, advance the Volney project work program, and provide general working capital.
• Finder’s fees: None paid in connection with this offering.

Notable Quotes

(No executive quotes were included in the release.)