Lion One Announces Overnight Marketed Offering
Lion One Announces Overnight Marketed
Offering
North Vancouver, British Columbia--(Newsfile Corp. - February 7, 2024) - Lion One Metals Limited
(
TSXV: LIO
) (
OTCQX: LOMLF
) (
ASX: LLO
) ("
Lion One
" or the "
Company
") announces that it is
commencing an overnight marketed public offering of units (the "
Offered Units
") of the Company for
anticipated gross proceeds of up to C$10.0 million (the "
Offering
"). The Offering is expected to be
completed pursuant to an underwriting agreement (the
"Underwriting Agreement
") to be entered into
between the Company, Cantor Fitzgerald Canada Corporation ("
CFCC
"), as lead underwriter and sole
bookrunner (the "
Lead Underwriter
"), and a syndicate of underwriters to be determined (collectively
with the Lead Underwriter, the "
Underwriters
").
The number of Offered Units to be sold, the Offering price (the "
Offering
Price
"), and the terms of the
Offered Units will be determined in the context of the market and there can be no assurance as to
completion of the Offering. In addition, the Company will grant the Underwriters an over-allotment option
(the "
Over-Allotment Option
") exercisable, in whole or in part, in the sole discretion of the Underwriters,
to purchase up to an additional 15% of the number of Offered Units sold in the Offering for up to 30 days
after the closing, on the same terms and conditions as the Offering.
The net proceeds received by the Company from the sale of the Offered Units will be used for
development and ramp up expenses at the Tuvatu Gold project located in Fiji, as well as for general
corporate expenses & purposes.
The Offering will be made by way of a prospectus supplement (the "
Prospectus Supplement
") to the
Company's existing Canadian short form base shelf prospectus dated May 13, 2022 (the "
Base Shelf
Prospectus
"). Upon completion of pricing of the Offering and the signing of the Underwriting
Agreement, the Prospectus Supplement will be filed with the securities commissions in Ontario, British
Columbia, and Alberta and will be available on SEDAR+ at
www.sedarplus.ca
. Alternatively, the
Prospectus Supplement and related Base Shelf Prospectus may be obtained upon request by
contacting the Company or Cantor Fitzgerald Canada Corporation in Canada, attention: Equity Capital
Markets, 181 University Avenue, Suite 1500, Toronto, ON, M5H 3M7, email:
.
The Offered Units will not be offered or sold in the United States except under Rule 144A or Regulation
D or in such other manner as to not require registration under the United States Securities Act of 1933,
as amended. The Offered Units may also be offered in those jurisdictions outside of Canada and the
United States as agreed to by the Company and the Underwriters provided that no prospectus filing or
comparable obligation arises and the Company does not thereafter become subject to continuous
disclosure obligations in such jurisdictions. This news release does not constitute an offer to sell or a
solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such
offer, solicitation or sale would be unlawful. No securities may be offered or sold in the United States or
in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S.
Securities Act of 1933, as amended, or an exemption therefrom or qualification under the securities laws
of such other jurisdiction or an exemption therefrom.
The closing of the Offering is expected to occur on or about February 13, 2024 and is subject to the
completion of formal 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 BC, with
new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The
Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the
Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the
entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration
targets.
As disclosed in its "Technical Report and PEA Update for the Tuvatu Gold Project" dated April 29, 2022,
the 2018 Tuvatu resource estimate comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz.
Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The
technical report is available on the Lion One website at
www.liononemetals.com
and under the Lion One
profile on the SEDAR+ website at
www.sedarplus.ca
.
In accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
, Alex
Nichol, MAIG, VP Geology and Exploration for Lion One, is the Qualified Person for the Company and
has reviewed and is responsible for the technical and scientific content of this news release.
Contact Information
Investor inquiries:
Phone:1-855-805-1250 (toll free North America)
Website:
www.liononemetals.com
Forward-Looking Statements
This press release may contain statements that may be deemed to be "forward-looking statements"
within the meaning of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein are forward-looking information. Generally, forward-
looking information may be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words
and phrases, or by the use of words or phrases which state that certain actions, events or results may,
could, would, or might occur or be achieved. 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 on assumptions Lion One Metals Limited believes are reasonable. These assumptions include,
but are not limited to, the
results of the Offering and associated marketing efforts, the use of proceeds
of the Offering, actual results of exploration projects being equivalent to or better than estimated
results in technical reports, assessment reports, and other geological reports or prior exploration
results, and results of ongoing production operations. Forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause the actual results, level of activity,
performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different
from those expressed or implied by such forward-looking information. Such risks and other factors
may include, but are not limited to: prevailing capital markets conditions, the stage development of
Lion One Metals Limited, general business, economic, competitive, political and social uncertainties;
the actual results of current research and development or operational activities; competition;
uncertainty as to patent applications and intellectual property rights; product liability and lack of
insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including
environmental legislation, affecting mining, timing and availability of external financing on acceptable
terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and
lack of qualified, skilled labor or loss of key individuals. 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, there may be other factors that cause results not to be as
anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-
looking information. Lion One Metals Limited does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
Neither the 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.
NOT FOR DISTRIBUTION TO US NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
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https://www.newsfilecorp.com/release/197187