Lion One Announces Closing of Upsized Sidecar Private Placement

Executive Summary

• Lion One Metals closed an upsized non‑brokered sidecar private placement, raising $8.31 M in gross proceeds.
• Combined with the previously completed LIFE Offering, total financing now totals $33.63 M from 105,100,016 units issued at $0.32 per unit.
• Proceeds will fund development of the Tuvatu Gold Project (including underground equipment and flotation plant), repay a loan to Nebari, and provide working capital.

Key Details

• Sidecar Private Placement:
• Gross proceeds: $8,310,245.44
• Units issued: 25,969,517 at $0.32 per unit
• LIFE Offering (previously completed):
• Gross proceeds: $25,321,759.68 (implied to reach total $33.63 M)
• Total Financing:
• Aggregate gross proceeds: $33,632,005.12
• Total units issued: 105,100,016 at $0.32 per unit
• Unit Composition: Each unit = 1 common share + 1 warrant to purchase one common share at $0.42, exercisable for three years.
• Finder Compensation:
• Cash finder's fees paid: $635,904
• Finder’s warrants issued: 1,987,200 (exercise price $0.32, two‑year term) to Canaccord Genuity, Ventum Financial, Golden Capital Consulting, Hasselbom Forvaltning.
• One finder received 1,005,500 units in lieu of $321,760 cash.
• Use of Proceeds:
• Purchase of underground mobile equipment for Tuvatu mine development.
• Completion of flotation plant by Q1 2026 to raise gold recovery >90%.
• Repayment of principal and interest on loan facility with Nebari.
• General working capital.
• Regulatory Notes:
• Listing pending final TSX‑V acceptance; securities subject to four‑month statutory hold periods (except LIFE Offering units).
• Related‑party transaction involving management disclosed; exempt from MI 61‑101 valuation/approval thresholds.

Notable Quotes

“We’re very pleased with the overwhelming demand we received for this upsized LIFE Offering and Sidecar Private Placement…we can now accelerate the purchase of several key pieces of underground mobile equipment which will enable us to further increase mine development and production at Tuvatu.” – Ian Berzins, CEO