Lion One Completes AU$12 million Public Offering

Lion One Metals Limited (ASX: LLO) has successfully closed an upsized underwritten public offering, issuing 24,150,000 units at AU$0.50 per unit, totaling AU$12,075,000 in gross proceeds. The underwriters fully exercised the over-allotment option, resulting in the sale of additional 3,150,000 units. Each unit comprises one common share and one common share purchase warrant, exercisable at C$0.65 per warrant share for 36 months.

The company paid a 6.0% cash commission to underwriters and issued 1,449,000 broker warrants. The funds raised will primarily support development and ramp-up expenses for the Tuvatu Gold project in Fiji, along with general corporate purposes. The offering was qualified for distribution under prospectus exemptions in certain jurisdictions. The securities offered have not been registered under the U.S. Securities Act and may not be sold in the United States without registration or exemption.

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