• Lion One Metals (LIO) has completed its debt and equity financing and received total proceeds of US$25 million
  • The funding included the first tranche payment of US$23 million from a US$37 million financing facility
  • The remaining US$2 million is from an equity private placement regarding the Tuvatu Alkaline Gold Project in Fiji
  • A US$12 million instalment is also available under the financing facility at Lion One’s option
  • Lion One Metals (LIO) is unchanged, trading at $0.84 per share as of 1:10 p.m. EST

Lion One Metals (LIO) has completed its debt and equity financing and received total proceeds of US$25 million.

The total funding was made up of a payment of US$23 million from the first tranche of a US$37 million financing facility. The remaining US$2 million is from an equity private placement regarding the Tuvatu Alkaline Gold Project in Fiji.

In addition to the first tranche, a US$12 million instalment is available under the financing facility at Lion One’s option. The option can be used in up to two more tranches which may be drawn on for an 18-month period. The involved creditors subscribed for roughly 3.12 million common shares of Lion One for CA$0.86 per common share.

Additionally, 1.3 million warrants have been issued to Nebari regarding the tranche. Each warrant can be exercised into one common share for C$1.49 for 42 months from the issuance date. The warrants are non-transferable and are subject to an accelerator provision.

The accelerator provision can allow the borrower may accelerate the expiry date for 25 per cent of the warrants. This will only happen if the volume-weighted average trading price of the common shares exceeds 100 per cent over the strike price for 20 consecutive trading days.

Lion One also has the option to accelerate the expiry of a further 25 per cent at four-month intervals, up to a maximum of 75 per cent of the warrants.

Lion One Metals (LIO) is unchanged, trading at $0.84 per share as of 1:10 p.m. EST.


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