Lion One Announces Closing of Upsized LIFE Offering for Gross Proceeds of $18.7 Million

Core Viewpoint - Lion One Metals Limited successfully closed an upsized non-brokered private placement, raising gross proceeds of $18.7 million to fund the development of its Tuvatu Gold Project and other financial obligations [1][2]. Group 1: Offering Details - The LIFE Offering raised gross proceeds of $18,715,153 through the issuance of 58,484,853 units at a price of $0.32 per unit, each consisting of one common share and one warrant [1]. - Each warrant allows the holder to acquire one common share at an exercise price of $0.42 for three years from issuance [1]. - The company paid finder's fees totaling $703,468.15 in cash and issued 2,190,462 finders warrants, representing a 7% commission on gross proceeds [3]. Group 2: Use of Proceeds - The net proceeds from the LIFE Offering will be allocated to the development of the Tuvatu Gold Project, repayment of a loan facility with Nebari, and general working capital [2]. Group 3: Company Background - Lion One Metals is an emerging Canadian gold producer with operations at the Tuvatu Alkaline Gold Project in Fiji, which includes a high-grade gold deposit and various mining facilities [8].