- Lion One Metals (LIO) has announced a bought deal offering for gross proceeds of C$12,504,800
- The company will issue 16,240,000 units for C$0.77 per unit
- The offering is expected to close on or about September 28, 2022
- The net proceeds from the sale will be used for the exploration and development of the company’s Tuvatu Gold Project in Fiji
- Lion One Metals is a mineral exploration and development company
- Lion One Metals Limited (LIO) opened trading at $0.86
Lion One Metals (LIO) has announced a bought deal offering for gross proceeds of C$12,504,800.
The company will issue 16,240,000 units for C$0.77 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share at $1.05 for a period of 36 months from the closing date of the offering.
Warrants are subject to an acceleration clause.
The underwriters have been given the option to purchase up to an additional 15 per cent of the number of units sold on the same terms as the offering.
The net proceeds from the sale will be used for the exploration and development of the company’s Tuvatu Gold Project, as well as working capital and general corporate purposes.
The offering is expected to close on or about September 28, 2022, and is subject to the receipt of all applicable regulatory approvals, including approval of the TSX Venture Exchange.
Lion One Metals is a mineral exploration and development company whose flagship asset is 100 per cent owned, fully permitted high-grade Tuvatu Alkaline Gold Project, located in Fiji.
Lion One Metals Limited (LIO) opened trading at $0.86.