Lion Copper Announces $2.5 Million Convertible Notes Offering

Core Points - Lion Copper and Gold Corp. announced a non-brokered private placement of secured convertible debentures for gross proceeds of up to US$2,500,000 [1][2] - The debentures will have an interest rate of 12% per annum and will mature in 12 months, with a conversion price of US$0.0965 per share [2] - Proceeds from the offering will be used to purchase lands and associated mineral rights for the Company's Yerington area projects [2] - The repayment of the debentures will be secured against the lands and mineral rights purchased with the proceeds [2] - The Company will issue up to 25,906,735 common share purchase warrants, allowing holders to acquire shares at US$0.0965 for 60 months [3] - A related party transaction involves the issuance of debentures to an insider for US$450,000, relying on exemptions from formal valuation requirements [4] - All securities issued will be subject to a four-month statutory hold period and resale restrictions under US Securities laws [5][6] - The securities have not been registered under the United States Securities Act of 1933 and cannot be sold in the U.S. without registration or exemption [6] - Lion Copper and Gold Corp. is advancing its flagship copper project in Yerington, Nevada through an agreement with Nuton LLC, a Rio Tinto Venture [7]