LION ROCK Arranges $1M Financing
LION ROCK RESOURCES INC.
200 Burrard Street, Suite 1680
Vancouver, BC, V6C 3L6
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
LION ROCK ARRANGES $1M FINANCING
Vancouver, British Columbia – March 9, 2023 – Lion Rock Resources Inc. (TSX-V: ROAR), (FSE:
KGB1) (the “Company”) announces a non-brokered private placemen t of up to 10,000,000 units of the
Company (the “Units”) at a price of $0.10 per Unit for gross proceeds of up to $1,000,000 (the “Offering”).
Each Unit will be comprised of one common share in the capital of the Comp any and one share purchase
warrant (a “Warrant”), with each Warrant entitling the holder th ereof to acquire one additional common
share at a price of $0.15 per share. The Warrants are exercisable for one year from the date of issue,
provided that after the expiry of all regulatory hold periods on the Warrants, if the common shares of the
Company trade on the TSX Venture Exchange at a price of $0.35 or more for five consecutive trading days
at any time (the “Acceleration Event”), then the Warrants will expire, subject to the Company’s discretion,
on the earlier of the expiry date and 4:30 p.m. (Vanc ouver time) on the date that is 30 calendar days after
the Company provides notice to the holders of the Warrants that the Acceleration Event has occurred.
The proceeds from the Offering will be used for general working capital. Finders’ fees may be payable in
whole or in part on the Offering, pursuant to the policies of the TSX Venture Exchange. All securities
issued under the Offering will be subject to regulatory hold periods expiring four months from the date of
issue.
The securities issued pursuant to the Offering have not, nor will they be registered under the United States
Securities Act of 1933, as amended, and may not be offe red or sold within the United States or to, or for
the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from
the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction
in which such offer, solicitation or sale would be unlawful.
The Offering is subject to the acceptance of the TSX Venture Exchange.
About Lion Rock Resources Inc.
Lion Rock Resources is northwestern Ontario's newest gold ‐copper explorer. The Company’s flagship
property, the Maybrun, is a past ‐producing mine (Maybrun gold ‐copper deposit) that was placed on care
and maintenance in 1974 for several years prior to an exploration program conducted by Opawica
Explorations Inc. in 2005. The Maybrun project is lo cated in the Atikwa Lake area of the Kenora Mining
Division, approximately 80 kilometres southeast of Kenora, in northwestern Ontario.
On Behalf of the Board
Kevin Bottomley President & Chief Executive Officer
O: 604 681 1568
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.