Offering funds exploration and development of the Tuvatu Gold Project
By Devika Patel
Knoxville, Tenn., Aug. 29 – Lion One Metals Ltd. said it has negotiated a C$41.4 million non-brokered private placement of units.
The company will sell 45 million units of one common share and one warrant at C$0.92 per unit.
Each 18-month warrant is exercisable at C$1.35, a 25% premium to the Aug. 26 closing share price of C$1.08.
Proceeds will be used for exploration and development of the Tuvatu Gold Project and for 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 warrant
|
| Amount: | C$41.4 million
|
| Units: | 45 million
|
| Price: | C$0.92
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.35
|
| Pricing date: | Aug. 29
|
| Stock symbol: | TSX Venture: LIO
|
| Stock price: | C$1.08 at close Aug. 26
|
| Market capitalization: | C$63.18 million
|
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