North Vancouver, British Columbia–(Newsfile Corp. – February 7, 2024) – Lion One Metals Limited (TSXV: Rio) (OTCQX: LOMLF) (ASX: LLO)(“lion one” or “company“) is pleased to announce the commencement of an overnight market public offering of units (“Provided unit“) has an expected total revenue of up to C$10 million (“RecruitmentThis offering is expected to be completed pursuant to an underwriting agreement (the Underwriting Agreement). “Underwriting contract”“) Company and Cantor Fitzgerald Canada Corporation (“CFCC“), as lead manager and sole bookrunner (“Lead underwriter securities company“), and a syndicate of underwriters to be determined (together with the lead underwriters,”underwriter“).
The number of subscription units to be sold, the subscription price (“Recruitment price), the terms of the offering units will be determined based on market conditions and there can be no assurance that the offering will be completed. In addition, the Company grants the underwriters an overallotment option (“”).Over-allotment options“) The underwriters, in their sole discretion, may exercise the right to purchase up to an additional 15% of the number of offering units sold in the offering, on the same terms and conditions, for up to 30 days after the closing of the offering.
The net proceeds received by the Company from the sale of the units offered will be used for the development and start-up costs of the Tuvatu Gold Project in Fiji, as well as for general corporate expenses and purposes.
This offering is being made by means of a prospectus supplement (“”).Supplement to the prospectus“) Our Existing Canadian Short Form Basic Inventory Prospectus dated May 13, 2022 (“Basic shelf prospectusOnce the offering has been priced and the underwriting agreement signed, a prospectus supplement will be filed with the securities commissions of Ontario, British Columbia and Alberta and will be made available on SEDAR+ (www.sedarplus.ca). Masu. , the prospectus supplement and the related base shelf prospectus are available upon request by contacting us or Cantor Fitzgerald Canada Corporation in Canada. Address: Equity Capital Markets, 181 University Avenue, Suite 1500, Toronto, ON, M5H 3M7, Email: ecmcanada@Offering Units may be registered under Regulation 144A or Regulation D, or under the United States Securities Act of 1933, as amended. Not offered or sold in the United States except by any other means not requiring. It will also be offered in jurisdictions other than Canada and the United States to which we and the underwriters agree, unless a prospectus filing or equivalent obligation arises and we are not subsequently subject to continuing disclosure obligations in such jurisdiction. . This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or in any other jurisdiction in which such offer, solicitation, or sale would be unlawful. Any offer or sale of any security would be unlawful in the United States or any other jurisdiction absent registration under the United States Securities Act of 1933, as amended, or an exemption therefrom or qualification under the Securities Act. You can't. Other Jurisdictions or Exemptions.
Closing of the offering is expected to occur on or about February 13, 2024 and is subject to the execution of definitive documentation and receipt of regulatory approvals, including the approval of the TSX Venture Exchange.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver, British Columbia, which opened a new operation in late 2023 at its wholly-owned Tuvatu alkaline gold project in Fiji. The Tsubatsu project consists of a high-grade Tsubatsu alkaline gold deposit, an underground gold mine, a pilot plant, and an analytical laboratory. The Company also has extensive exploration licenses covering the entire Nabilawa Caldera with multiple mineralized zones and highly prospective exploration targets.
As disclosed in the “Tubatu Gold Project Technical Report and PEA Update” dated April 29, 2022, the 2018 Tuvatu resource estimate is 8.50 g/t Au (274,600 oz. Au). It consists of 1,007,000 tonnes indicated by and 1,325,000 tonnes estimated at 9.0 g. /t Au (384,000 oz. Au), cutoff grade 3.0 g/t Au. Technical reports are available from the Lion One profile on the Lion One website (www.liononemetals.com) and the SEDAR+ website (www.sedarplus.ca).
Compliant with National Instrument 43-101 – Disclosure standards for mineral projectsLion One's Vice President of Geological Exploration, Alex Nichol, MAIG, is a qualified individual of the Company and has reviewed and is responsible for the technical and scientific content of this news release.
contact address
Investor inquiries: info@liononemetals.com
Phone: 1-855-805-1250 (North America toll free)
Website: www.liononemetals.com
Forward-looking statements
This press release may contain statements that may be considered “forward-looking statements” within the meaning of applicable Canadian securities laws. All statements other than historical facts contained herein are forward-looking information. Forward-looking information generally includes statements such as “planned,” “expected,” “unexpected,” “proposed,” “anticipated,” “budgeted,” “intended,” and “anticipated.” ”, “estimate”, “anticipate”, “intend”, “anticipate”, “unexpected”, or “believe”, or variations of such words or phrases, or specific actions or events. By the use of words and phrases that describe. or the result may occur or be achieved, is likely to occur, is likely to occur. This forward-looking information reflects Lion One Metals Limited's current beliefs and is based on information currently available to Lion One Metals Limited and assumptions that Lion One Metals Limited believes to be reasonable. These assumptions include that the results of the offering and related marketing activities, the use of the proceeds of the offering, and the actual results of the exploration project will be equal to or better than estimated results in technical reports, evaluation reports, etc. but not limited to. geological reports or previous exploration results and results of ongoing production operations; Forward-looking information is subject to known and unknown risks, uncertainties and other factors and may not reflect the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries, expressed or implied by them. may differ significantly from what was shown. Positive information. Such risks and other factors include, but are not limited to, general capital market conditions, Lion One Metals Limited's stage of development, general business, economic, competitive, political and social uncertainties; Not limited to these. the actual results of current research, development or operational activities; competition; uncertainties regarding patent applications and intellectual property rights; Product liability and lack of insurance. delays or failures in receiving board or regulatory approvals; changes in legislation, including environmental laws, affecting mining, the timing and availability of external financing on acceptable terms; Not recognizing the potential benefits of technology. Conclusion of the economic evaluation. lack of qualified skilled labor or loss of key personnel; Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, but Lion One Metals Limited There may be other factors that cause this to occur. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited undertakes no obligation to update forward-looking information except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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