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Lion One Receives Conditional Approval for $15 Million Private Placement
Lion One Metals has received conditional approval for a non-brokered private placement with Arete Capital. The offering is expected to close on March 27, 2026, and will fund strategic initiatives at the Tuvatu Alkaline Gold Project in Fiji.
Lion One Metals anticipates closing a C$15,050,032 non-brokered private placement with Arete Capital on March 27, 2026. Each unit in the offering consists of one common share and one common share purchase warrant, priced at $0.34 per unit. The warrants can be exercised at $0.39 per share for three years after the offering closes. Concurrently with the closing, Lion One and Arete will enter into an investor rights agreement and a management services agreement. Arete has agreed not to acquire more than 10% of Lion One's common shares without prior approval from the TSXV. Disinterested shareholder approval will be required for Arete to hold over 20% of the company's outstanding shares, in accordance with TSX-V policies.
Key Facts
- Lion One Metals has received conditional approval for a private placement with Arete Capital.
- The offering is for gross proceeds of C$15,050,032.
- Each unit includes one common share and one common share purchase warrant at $0.34.
- The company anticipates closing the offering on March 27, 2026.
- Arete has agreed not to acquire more than 10% of Lion One's shares without TSXV approval.
- Shareholder approval is needed for Arete to hold over 20% of outstanding shares.
- Net proceeds will fund strategic initiatives at the Tuvatu Alkaline Gold Project in Fiji.
Primary Source
Research Sources
- Investing News Network — Lion One Announces Conditional Approval of the Non-Brokered Private Placement with Arete Capital