Core Points - Lion One Metals Limited has successfully closed an underwritten offering, issuing 25,367,647 units at a price of 8,625,000 [1] - The total gross proceeds from both the offering and a concurrent non-brokered private placement amount to 2,186,578.76 from 6,431,114 units [2][3] Offering Details - Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at C603,750 to underwriters, equating to 7% of the gross proceeds, and issued 1,775,735 broker warrants [5] Use of Proceeds - Net proceeds from the offering will be allocated for mining and mill equipment, ongoing exploration activities at the Tuvatu Gold project in Fiji, and general corporate expenses [6] Related Party Transactions - Certain subscribers in the private placement include directors and management of the company, qualifying as a "related party transaction" but exempt from formal valuation and minority shareholder approval requirements [7] Company Overview - Lion One Metals Limited is an emerging Canadian gold producer with operations at the Tuvatu Alkaline Gold Project in Fiji, which includes a high-grade gold deposit and extensive exploration licenses [10]
Lion One Announces Closing of Underwritten Public Offering and Sidecar Private Placement