Deal conducted by agent Casimir Capital to fund exploration in Fiji
By Devika Patel
Knoxville, Tenn., April 14 - Lion One Metals Ltd. said it settled a C$12.68 million private placement of units, The deal was conducted by Casimir Capital LP and priced for C$15 million on April 4.
The company sold 8,180,906 units of one common share and one half-share warrant at C$1.55 per unit. Each whole warrant will be exercisable at C$2.25 until April 14, 2012. The strike price is an 18.42% premium to the April 1 closing share price of C$1.90.
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$12,680,404
|
| Units: | 8,180,906
|
| Price: | C$1.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | April 14, 2012
|
| 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$56.42 million
|
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