Lion One seals C$1.59 million of C$14.27 million placement of units

Deal conducted by agent Casimir Capital to fund exploration in Fiji

By Devika Patel

Knoxville, Tenn., April 26 - Lion One Metals Ltd. said it settled a C$1.59 million second tranche of a C$14.27 million private placement of units. The deal was conducted by Casimir Capital LP and priced for C$15 million on April 4; the company raised C$12.68 million on April 14.

The company sold 8,180,906 units of one common share and one half-share warrant at C$1.55 per unit in the first tranche and 1,025,123 units in the second. Each whole warrant will be exercisable at C$2.25 until April 26, 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.

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$14,269,345
Units:	9,206,029 (8,180,906 in first tranche, 1,025,123 in second)
Price:	C$1.55
Warrants:	One half-share warrant per unit
Warrant expiration:	April 26, 2012
Warrant strike price:	C$2.25
Agent:	Casimir Capital LP
Pricing date:	April 4
Settlement dates:	April 14 (for C$12,680,404), April 26 (for C$1,588,941)
Stock symbol:	TSX Venture: LIO
Stock price:	C$1.90 at close April 4
Market capitalization:	C$52.53 million

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