Lion One Metals Announces C$12.5 Million "Bought Deal" Public Offering of Units
InvestorSarfari Comments:
There’s a heavy sense of dread in the air. This Lion ‘investor safari’ started with enough peppy optimism, right? You had a destination in mind. Excellent. But now, something is wrong. Though you can’t articulate exactly what.
Making matters worse, you’re waaaay too deep in the brush AND it’s getting dark. Safari anxiety.
Thoughts of Jurassic Park. Did you hear that strange prehistoric sound? Thud. It’s the same one you heard faintly before, but ignored – wanting excitedly to continue the safari.
Now louder. Stomping, Chewing, Growling? A passing ghastly shadow. Shit.
Don’t bother reaching for the camera. No cuddly koalas in a perfect pose are likely to appear around the next turn. Best stay in the Jeep.
Hang on to the side bars to leverage jumping out OR to endure the pot-holed ride. These are the two* choices. The anxiety is real. Blood pressure is bubbling, heart racing, hands shaking…
Let’s pause here and zoom out to get a better pic of the locale. How did we even get here?
Fear. We’ve been force-fed a mosaic of fear for the last two years and it’s taking a severe toll on us - and our investment portfolios.
Here’s a reality news flash: The system is rigged, and it’s not in your favor. Most seasoned retail investors have deduced this already.
There’s a two-tier system in almost every facet of our society - from justice, to politics, and yes, to finance. The division is becoming more apparent with each passing year.
Manipulation tactics are the modus operandi of these Privileged Few.
“They” don’t play fair or by the rules. “They” also hate you. Your best interests are not a priority. So go pound sand.
Oh yes, “They” own the sandbox you’re pounding (or playing in) too.
Enough water has been added to the box, that the worldwide economy is now mired in quicksand. Any action by our Elected Saviors to yank it to safety seems to sabotage it further. One might even suspect that it’s intentional? Don’t be silly. There’s no such thing as “The Great Reset!”
So far 2022 stands as the worst year in US stock market history. The world-wide lockdowns together with MASSIVE paper printing worked together to create savage inflation. The TRILLIONS of dubious spending is happening at blistering speed. Look to history to reveal the usual incineration that follows.
We’ve been conned. Over and over again. We have to let this reality sink in.
There is hope. Remove the wishful goggles to become a warrior who survives. Rid the anxiety. It does take effort (let’s not kid ourselves) to gather all inner resources to deal with the constant barrage of crap.
Realizing anxiety is an invention of our own bad-ass imagination, helps lessen its effect. Understanding that manufactured fear is a manipulation tactic used by “Them” to sway public behavior, also helps.
Deep breath. Hold.
Let’s inspect this LION dung with a long stick and minimal inhaling.
Some relevant questions: Is the company continuing to drill? YES. Will blockbuster drill results still come in? YES. Is the company still going ahead with a mining plan? Likely YES.
So fundamentally, it’s business as usual, with one big difference: we’re in a market that’s drying up with less investor participation in stocks.
Rising rates and political instability world-wide has settled in and there’s reduced risk-appetite for the stock market. Denying this is fools play.
As long as the fundamental answers to the questions remain as a YES, we’ll continue following this safari.
There IS a third* option. For newcomers who have been watching the action on the sidelines, you can grab a ride on the Jeep for cheap. Lion One shares are on sale - at a price that hasn't been seen in years.
You might even catch a pic of cuddly koalas. Maybe.
A reminder that none of the staff at Investor Safari get reimbursed for covering companies. This liberates us to be brutally honest in our commentary. Our readers have expressed appreciation for that. Thanks for sharing the safari news with fellow investors.
North Vancouver, British Columbia--(Newsfile Corp. - September 21, 2022) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) ("Lion One" or the "Company") is pleased to announce that it has entered into an agreement with Eight Capital and Canaccord Genuity Corp., as co-lead underwriters and joint bookrunners (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" basis,16,240,000 units of the Company (the "Units") at a price of C$0.77 per Unit (the "Issue Price"), for total gross proceeds of C$12,504,800 (the "Offering").
Each Unit will consist of one common share (a "Common Share") in the capital of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a "Warrant") of the Company. Each Warrant shall be exercisable to acquire one Common Share (a "Warrant Share") at a price per Warrant Share of C$1.05 for a period of 36 months from the closing date of the Offering.
If, following the closing of the Offering, the volume weighted average trading price of the Common Shares on the principal exchange on which the Shares are listed for any 20 consecutive trading days equals or exceeds C$1.75, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice
In addition, the Company has agreed to grant the Underwriters an option (the "Over-Allotment Option"), exercisable in whole or in part, for a period of 30 days after the closing of the Offering, to purchase up to an additional 15% of the number of Units sold pursuant to the Offering, on the same terms as the Offering, to cover over-allotments and for market stabilization purposes.
The net proceeds from the sale of the Units will be used for exploration and development of the Company's Tuvatu Gold Project, as well as working capital and general corporate purposes.
The Units will be offered by way of a prospectus supplement (the "Prospectus Supplement") to the Company's base shelf prospectus dated May 13, 2022. The Prospectus Supplement will be filed in Alberta, British Columbia and Ontario and, together with the related base shelf prospectus, will be available on SEDAR at www.sedar.com.
Closing of the Offering is expected to take place on or about September 28, 2022 and is subject to certain conditions including, but not limited to the receipt of all applicable regulatory approvals including approval of the TSX Venture Exchange.
The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Lion One Metals Limited
Lion One's flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One's CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
On behalf of the Board of Directors of
Lion One Metals Limited
"Walter Berukoff"
Chairman and CEO
For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137913