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The latest update is out from Lion One Metals ( (TSE:LIO) ).
Lion One Metals Limited has announced a non-brokered private placement to raise up to $2 million in response to market demand, subject to TSX Venture Exchange approval. The proceeds will be used for development and exploration in Fiji and general corporate purposes. This move parallels a previously announced $7.5 million offering but will be settled directly with the company. The involvement of company directors and management in the placement constitutes a related party transaction, exempt from certain regulatory requirements. This strategic financing initiative is expected to bolster Lion One’s operations in Fiji, enhancing its exploration and development capabilities.
More about Lion One Metals
Lion One Metals is a Canadian gold producer based in North Vancouver, BC, focusing on the Tuvatu Alkaline Gold Project in Fiji. The project includes the Tuvatu Alkaline Gold Deposit, an Underground Gold Mine, a Pilot Plant, and an Assay Lab, along with extensive exploration licenses in the Navilawa Caldera, targeting multiple mineralized zones.
YTD Price Performance: 37.50%
Average Trading Volume: 235,349
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$102.4M
Learn more about LIO stock on TipRanks’ Stock Analysis page.
