Lion One Metals removal from ASX official list

Lion One Metals Limited (ASX: $LLO) will be removed from the Official List at the close of trading today, 5 August 2024. The securities of LLO were suspended from quotation under Listing Rule 17.3 on 14 February 2024 due to LLO's failure to comply with Listing Rule 7.1. LLO was censured by ASX on 7 June 2024 for breach of Listing Rule 7.1. On 30 July 2024, LLO disclosed that it had issued further securities in breach of Listing Rules 7.1 and 10.11. ASX is of the opinion that LLO is unable or unwilling to comply with the Listing Rules and that it is appropriate to remove LLO from the Official List.

ASX Compliance's opinion on LLO's removal

ASX Compliance stated that LLO's repeated breaches of the ASX Listing Rules, including the issuance of securities in violation of the rules, led to the decision to remove LLO from the Official List. The company's failure to comply with the Listing Rules and the subsequent censure by ASX indicated an inability or unwillingness to adhere to the regulations, necessitating the removal from the Official List.

LLO's removal and outlook

Lion One Metals Limited (ASX: $LLO) is set to be removed from the Official List due to repeated breaches of the ASX Listing Rules, including the issuance of securities in violation of the rules. The company's failure to comply with the Listing Rules and the subsequent censure by ASX led to the decision. The outlook for LLO's reinstatement to the Official List is uncertain, as ASX has deemed the company unable or unwilling to comply with the Listing Rules. This announcement marks a significant development in LLO's corporate journey, and the company's future actions will be closely monitored by the market.