Lion Rock increases private placement to $5.1-million

Executive Summary

• Lion Rock Resources Inc. announced an increased non‑brokered private placement to raise up to $5.1 million.
• Up to 25.5 million units will be sold at C$0.20 per unit, each unit consisting of one common share and one non‑transferable warrant (exercise price C$0.30).
• Proceeds are earmarked for property payments, exploration work on the Volney project, and general working capital.

Key Details

• Offering Size: Up to C$5.1 million.
• Units Offered: Up to 25.5 million units at C$0.20 per unit.
• Unit Composition: 1 common share + 1 non‑transferable warrant.
• Warrant Terms: Right to purchase one additional common share at C$0.30 per share for two years from issuance; may accelerate expiration if TSX Venture Exchange price ≥ C$0.40 for five consecutive trading days, with expiry occurring 30 calendar days after notice or earlier at company discretion.
• Regulatory Hold: All securities subject to a hold period of four months and one day from the date of issue.
• Use of Proceeds:
• Property payments.
• Exploration activities on the Volney gold project in South Dakota’s Black Hills.
• General working capital.
• Finders’ Fees: May be payable in whole or in part, consistent with TSX Venture Exchange policies.
• Closing Condition: Offering subject to acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)