LIO Lion One Metals Limited

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Lion One Metals Limited (TSX VENTURE:LIO)(FRANKFURT:LY1) ("Lion One", or the
"Company") announced today that it has completed its previously announced
private placement led by Casimir Capital LP (the "Agent"). 


Lion One has issued a total of 8,180,906 units (the "Units") at a price of $1.55
per Unit for total gross proceeds of C$12,680,404.30 (the "Private Placement").
Each Unit consists of one common share of the Company and one-half of one common
share purchase warrant. Each whole warrant entitles the holder to purchase one
additional Common Share at a price of C$2.25 per common share until April 14,
2012. 


Lion One has paid the Agents a cash commission equal to 6% of the gross proceeds
of the Private Placement sourced by the Agents and has issued broker warrants
entitling the Agent to purchase such number of common shares as is equal to 6%
of the aggregate number of common shares sold in the Private Placement through
the Agent. Each Agent's Warrant entitles the holder to purchase one additional
common share at a price of C$2.25 per common share until April 14, 2012. 


The securities issued under the Private Placement will be subject to a hold
period pursuant to applicable Canadian securities laws and the rules of the TSX
Venture Exchange expiring on August 15, 2011. Lion One will use the net proceeds
of the Private Placement for exploration and development work on its projects in
Fiji and for general working capital purposes.


About Lion One Metals Limited

Lion One is a Canadian exploration company holding Special Prospecting Licenses
on five tenements in the Fijian Islands, including the Tuvatu project on the
island of Viti Levu.


ON BEHALF OF THE BOARD OF DIRECTORS

Walter H. Berukoff, Chairman and Director

Lion One Metals Limited

This press release may contain "forward-looking information" within the meaning
of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein are forward looking information.
Generally, forward-looking information may be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect",
"proposed", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases, or by the use of words or phrases which state that
certain actions, events or results may, could, would, or might occur or be
achieved. This forward-looking information reflects Lion One Metals Limited's
current beliefs and is based on information currently available to Lion One
Metals Limited and on assumptions Lion One Metals Limited believes are
reasonable. These assumptions include, but are not limited to, the actual
results of exploration projects being equivalent to or better than estimated
results in technical reports, assessment reports, other geological reports or
prior exploration results. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Lion One Metals
Limited or its subsidiaries to be materially different from those expressed or
implied by such forward-looking information. Such risks and other factors may
include, but are not limited to: the early stage development of Lion One Metals
Limited, general business, economic, competitive, political and social
uncertainties; the actual results of current research and development or
operational activities; competition; uncertainty as to patent applications and
intellectual property rights; product liability and lack of insurance; delay or
failure to receive board or regulatory approvals; changes in legislation,
including environmental legislation, affecting mining, timing and availability
of external financing on acceptable terms; not realizing on the potential
benefits of technology; conclusions of economic evaluations; and lack of
qualified, skilled labor or loss of key individuals. Although Lion One Metals
Limited has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking information. Lion One Metals Limited does not
undertake to update any forward-looking information, except in accordance with
applicable securities laws.

Lion One Metals (TSXV:LIO)
Historical Stock Chart
From Sep 2024 to Oct 2024

Lion One Metals (TSXV:LIO)
Historical Stock Chart
From Oct 2023 to Oct 2024