Lion One Metals delisted from ASX official list

Lion One Metals Limited (ASX: $LLO) has announced its removal from the official list of the Australian Securities Exchange (ASX) following a voluntary delisting application submitted on 24 June 2024. The company's CHESS Depositary Interests (CDIs) are currently suspended from trading on ASX. Lion One's common shares (Shares) will continue to be traded on the TSX Venture Exchange (TSX-V) under the trading symbol LIO and on the OTCQX under the trading symbol LOMLF.

Executive Commentary on Delisting

The Company sought a voluntary delisting from the ASX due to the ongoing low frequency of trading, low volumes traded, and limited index inclusion of CDIs traded on ASX as compared to that of the TSX-V. The decision was made in the best interests of the shareholders as a whole, considering the financial, administrative, and compliance obligations and costs associated with maintaining an ASX listing. We acknowledge ASX's decision to remove Lion One from the official list despite our request for a voluntary delisting.

Summary of Delisting and Outlook

Lion One Metals Limited's delisting from the ASX official list is a strategic move driven by the company's assessment of trading frequency, volumes, and index inclusion. The decision aims to streamline financial, administrative, and compliance obligations, aligning with the best interests of the shareholders. Following the delisting, the company's common shares will continue to be traded on the TSX-V and OTCQX. Lion One Metals remains committed to its operations and projects, including the Tuvatu Alkaline Gold Project in Fiji, and will continue to focus on its exploration and production activities.