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.
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Issue: | Units of one common share and one warrant
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Amount: | C$41.4 million
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Units: | 45 million
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Price: | C$0.92
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Warrants: | One warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$1.35
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Pricing date: | Aug. 29
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Stock symbol: | TSX Venture: LIO
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Stock price: | C$1.08 at close Aug. 26
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Market capitalization: | C$63.18 million
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