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Lion One Metals (ASX: $LLO) announces closing of upsized $12m underwritten public offering

Lion One Metals Limited (ASX: $LLO) underwritten public offering closing announcement


Lion One Metals Limited (ASX: $LLO) has successfully closed the underwritten public offering, issuing 24,150,000 units at a price of $0.50 per unit, resulting in aggregate gross proceeds of $12,075,000. The underwriters exercised the over-allotment option in full, purchasing an additional 3,150,000 units. The net proceeds from this offering will be utilized for development and ramp up expenses at the Tuvatu Gold project in Fiji, as well as for general corporate purposes.

Executive commentary on underwritten public offering closing


The successful closing of the underwritten public offering marks a significant milestone for Lion One Metals Limited. The gross proceeds of $12,075,000 will provide the necessary financial resources to support the development and ramp up expenses at the Tuvatu Gold project in Fiji, further strengthening our position as an emerging Canadian gold producer. We are grateful for the support from our underwriters and investors, and we remain committed to delivering value to our shareholders through the advancement of our projects and exploration activities.

Summary of underwritten public offering closing and outlook


Lion One Metals Limited (ASX: $LLO) has closed the underwritten public offering, generating gross proceeds of $12,075,000. The net proceeds will be directed towards the development and ramp up expenses at the Tuvatu Gold project in Fiji, as well as for general corporate purposes. The successful closure of this offering reflects the company's commitment to advancing its projects and exploration activities. With the financial resources in place, Lion One Metals is well-positioned to execute its corporate strategy and achieve its goals in the near term.

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