Lion One closes $18.71-million private placement

Executive Summary

• Lion One Metals closed an upsized non‑brokered private placement, raising $18.7 million in gross proceeds.
• The offering consisted of 58,484,853 units at $0.32 per unit, each unit containing one common share and one warrant (exercise price $0.42, three‑year term).
• Net proceeds will fund development of the Tuvatu gold project, repay a loan to Nebari, and provide working capital; the financing also enables accelerated acquisition of underground mobile equipment and completion of the flotation plant in Q1 2026.

Key Details

• Units Issued: 58,484,853
• Price per Unit: $0.32 (gross proceeds $18,715,153)
• Unit Composition: 1 common share + 1 common‑share purchase warrant (exercise price $0.42, exercisable for three years).
• Use of Proceeds:
• Development of the 100 % owned, fully permitted Tuvatu high‑grade gold project.
• Repayment of principal and interest on loan facility with Nebari.
• General working capital.
• Finder Fees & Warrants:
• Cash finders’ fees paid: $703,468.15.
• Finder warrants issued: 2,190,462 (to multiple broker‑dealers).
• Additional non‑cash consideration: one finder received 984,375 units in lieu of $315,000 cash; associated warrants exercisable at $0.32 for two years.
• Resale Restrictions:
• Units and underlying securities not subject to Canadian resale restrictions.
• Finder warrants and underlying shares subject to a four‑month‑and‑one‑day resale restriction.
• Related‑Party Transaction: Certain subscribers are directors/management; exemption from MI 61‑101 valuation and minority approval because the value does not exceed 25 % of market cap.
• Closing Conditions: Completion and payment of finder fees subject to final TSX‑V acceptance.

Notable Quotes

“We're very pleased with the strong demand we received for this upsized private placement. With the equity financing successfully completed today, we can now accelerate the purchase of several key pieces of underground mobile equipment and ensure the completion of the flotation plant in Q1 2026…we will be well positioned to continue ramping up production at Tuvatu.” – Ian Berzins, CEO