Northwire Canada EditionWednesday, July 29, 2026
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Financings

Lion One Metals appoints Olsen as CEO, director

By The Northwire Desk — AI Analysis Feb 25, 2026 · 18:00 LIO · 0.30 Lion One Metals Limited
LIO · Price

Executive Summary

  • Lion One Metals Ltd. has appointed Campbell Olsen as its new Chief Executive Officer and director, effective immediately to comply with TSX Venture Exchange rules ahead of a pending transaction.
  • The company announced a material adverse update regarding its senior secured loan facility, receiving a notice of default from Nebari Collateral Agent LLC effective January 31, 2026, due to non-financial covenants and a claimed "material adverse effect."
  • The proposed $15 million equity investment transaction with Arete Capital remains under review by the TSX Venture Exchange, with completion subject to regulatory approval.

Key Details

  • CEO Appointment: Campbell Olsen appointed as CEO and director. He brings extensive experience in international private equity (Nomura Jafco, Advent International) and high-grade underground gold mining. He holds a B.Eng. and MBA from Melbourne Business School.
  • Board Composition: The board now includes Walter Berukoff (Chairman), Richard Meli, Todd Romaine, David Anderson, and Campbell Olsen.
  • Officer Structure: Campbell Olsen (CEO), Walter Berukoff (President), Tony Young (CFO), and Hamish Greig (VP and Corporate Secretary).
  • Arete Capital Transaction:
    • Proposed $15 million equity investment announced on Dec. 30, 2025.
    • Transaction is pending TSX Venture Exchange review and approval.
    • Upon closing, an investor rights agreement and management services agreement will be executed.
    • Mr. Olsen serves as Arete Capital's nominee to the board pursuant to the expected investor rights agreement.
  • Credit Facility Default:
    • Nebari Collateral Agent LLC issued a notice of default effective Jan. 31, 2026.
    • Defaults cited: Non-financial covenants and a "material adverse effect."
    • Consequence: Margin component of the interest rate increased to the default rate effective Feb. 20, 2026.
    • Status: Lion One is in active discussions with Nebari to stabilize financing arrangements.
  • Other Updates: Lion One terminated a market research service agreement with Couloir Capital.

Notable Quotes

  • "On behalf of the board and management team, we welcome Campbell Olsen to the company and look forward to unlocking shareholder value." — Walter Berukoff, Chairman and President
Read the original news release →

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