LION ROCK Closes $1,070,000 Financing
LION ROCK RESOURCES INC.
200 Burrard Street, Suite 1680
Vancouver, BC, V6C 3L6
LION ROCK CLOSES $1,070,000 FINANCING
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia – August 23, 2023 – Lion Rock Resources Inc. (TSX-V: ROAR), (FSE:
KGB1) (the “Company”) announces that it has closed a non-brokered private placement of 10,700,000
units of the Company (the “Units”) at a price of $0.10 per Unit for total gross proceeds of $1,070,000 (the
“Offering”). Each Unit is comprised of one common shar e in the capital of the Company and one share
purchase warrant (a “Warrant”), with each Warrant entitling the holde r thereof to acquire one additional
common share at a price of $0.20 per share. The Warrants are exercisab le for two years 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 $0.40 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. (Vancouver 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. The common shares comprising
the Units, Warrants, and any common shares issued upon exercise of the Warrants are subject to a hold
period and may not be traded until December 24 , 2023 except as permitted by applicable securities
legislation and the rules and policies of the TSX Venture Exchange.
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.
About Lion Rock Resources Inc.
Lion Rock is a Canadian exploration company focused on advancing its critical mineral projects in prime
jurisdictions. The Company’s diverse portfolio includes the Maybrun Copper-Gold project and the Revell
Lithium project, both situated in northwest Ontario, as well as the Fleuron Lith ium Project in northern
Quebec.
On Behalf of the Board
R. Dale Ginn, President & Chief Executive Officer
O: 604-678-5308
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.
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Cautionary Note regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts are “forward-looking information” or “forward-
looking statements” (collectively, “F orward-Looking Information”) within the meaning of applicable Canadian
securities legislation and the United States Private Secu rities Litigation Reform Act of 1995. Forward-Looking
Information includes, but is not limited to, the intended us e of proceeds from the Offe ring. The words “anticipate,”
“significant,” “expect,” “may,” “will” and similar expressions are intended to be among the statements that identify
Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and
other factors which may cause the actual results to be materially different from any future results expressed or implied
by the Forward-Looking Information. In preparing the Fo rward-Looking Information in this news release, the
Company has applied several material assumptions, includin g, but not limited to, assumptions that general business
and economic conditions will not change in a materially adverse and all requisite information and regulatory approvals
will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties
and other factors which may cause the actual results, performance, or achievements of the Company to be materially
different from any future results, performance or achievements expressed or implied by the Forward-Looking
Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks
related to unforeseen delays; availability of capital and fi nancing; general economic, market or business conditions,
regulatory changes; as well as those factors discussed in the Company's public disclosure record. Although the
Company has attempted to identify important factors that could affect the Company and may cause actual actions,
events, or results to differ materially from those described in Forward-Looking Information, there may be other factors
that cause actions, events or results not to be as anticipat ed, estimated or intended. There can be no assurance that
Forward-Looking Information will prove to be accurate, as actual results and fu ture events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking
Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions
to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.