Brokered deal inked with Casimir Capital to fund exploration in Fiji
By Devika Patel
Knoxville, Tenn., April 4 - Lion One Metals Ltd. said it plans a C$15 million private placement of units through agent Casimir Capital LP.
The company will sell 9,677,419 units of one common share and one half-share warrant at C$1.55 apiece. Each whole warrant will be exercisable at C$2.25 for one year. The strike price is an 18.42% premium to the April 1 closing share price of C$1.90.
Settlement is expected April 14.
Proceeds will be used for exploration and development work on the company's projects in Fiji and for general working capital purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Lion One Metals Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$15 million
|
| Units: | 9,677,419
|
| Price: | C$1.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$2.25
|
| Agent: | Casimir Capital LP
|
| Pricing date: | April 4
|
| Settlement date: | April 14
|
| Stock symbol: | TSX Venture: LIO
|
| Stock price: | C$1.90 at close April 4
|
| Market capitalization: | C$73.93 million
|
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