Lion One Metals Closes Upsized Private Placement for $18.7 Million

Lion One Metals Limited has closed a non-brokered private placement, raising $18.7 million in gross proceeds. The company issued 58.5 million units at $0.32 per unit, with each unit consisting of one common share and one warrant. The funds will be used to fund the development of the Tuvatu Gold Project, repay a loan facility, and for working capital purposes. Lion One plans to accelerate the purchase of underground mobile equipment and complete the flotation plant in Q1 2026.

North Vancouver, British Columbia — Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) has successfully closed its previously announced and upsized non-brokered private placement, raising gross proceeds of $18,715,153. The company issued 58,484,853 units at a price of $0.32 per unit. Each unit consists of one common share and one Common Share purchase warrant, with each warrant entitling the holder to acquire one common share at an exercise price of $0.42 for a period of three years from the date of issuance.

The funds from the LIFE Offering will be used to fund the development of Lion One's 100% owned and fully permitted high-grade Tuvatu Gold Project, repay principal and interest for the company's loan facility with Nebari, and for working capital purposes. The company also plans to accelerate the purchase of several key pieces of underground mobile equipment and ensure the completion of the flotation plant in Q1 2026.

In connection with the LIFE Offering, Lion One paid aggregate finder's fees of $703,468.15 in cash and issued 2,190,462 finders warrants to various financial institutions. The finders' warrants are exercisable for a period of two years from the date of issuance and entitle the holder to purchase one common share at a purchase price of $0.32 per warrant.

The completion of the LIFE Offering and payment of the finder's fees remain subject to final TSX-V acceptance. Certain subscribers under the LIFE Offering are directors and management of the company, and the issuance of offered units to these individuals constitutes a related party transaction.

The Lion One Metals Limited board of directors, led by Chairman Walter Berukoff, stated: "We are 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. With the addition of these components, we will be well positioned to continue ramping up production at Tuvatu."

The article was prepared based on the information provided in the Lion One Metals Limited press release Lion One Announces Closing of Upsized LIFE Offering for Gross Proceeds of $18.7 Million^[1].