Lion Rock Resources Arranges $3M Financing

Core Viewpoint - Lion Rock Resources Inc. has announced a non-brokered private placement to raise up to $3,000,000 through the issuance of 15,000,000 units at a price of $0.20 per unit, which includes common shares and warrants [1][2]. Group 1: Offering Details - The offering consists of units priced at $0.20 each, with a total gross proceeds target of $3,000,000 [1]. - Each unit includes one common share and one non-transferable warrant, allowing the holder to purchase an additional common share at $0.30 for two years [1]. - An Acceleration Event will occur if the common shares trade at $0.40 or more for five consecutive trading days, leading to the potential early expiration of the warrants [1]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated for property payments, exploration work on the Volney Project, and general working capital [2]. Group 3: Company Overview - Lion Rock Resources Inc. is focused on high-grade gold and lithium projects in North America, with its flagship asset being the Volney Project located in South Dakota [5]. - The company is led by a team with a strong track record in mineral discoveries, project development, and financing [5].