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PRESS RELEASE: Lion One Announces $10 Million Private Placement of Units

| Quelle: Dow Jones Newsw... | Lesedauer etwa 7 min. | Text vorlesen Stop Pause Fortsetzen
PRESS RELEASE: Lion One Announces $10 Million Private Placement of Units

DGAP-News: Lion One Metals Limited / Key word(s): Miscellaneous
Lion One Announces $10 Million Private Placement of Units
2019-11-14 / 23:21
The issuer is solely responsible for the content of this announcement.

North Vancouver, British Columbia(Newsfile Corp. - November 14, 2019) -
Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (the
"*Company*") is pleased to announce it has entered into an agreement with
Echelon Wealth Partners Inc. and Eight Capital as co-lead agents and joint
bookrunners on behalf of a syndicate of agents (together, the "*Agents*")
whereby the Agents will sell on a commercially reasonable efforts private
placement basis, up to 12,500,000 units of the Company (the "*Units*") at a
price of $0.80 per Unit (the "*Issue Price*") for total gross proceeds of up
to $10,000,000 (the "*Private Placement*").

Each Unit consists of one common share (the "*Common Shares*") and one
common share purchase warrant (the "*Warrants*"). Each Warrant will entitle
the holder to purchase one additional common share of the Company at a price
of $1.20 for a period of 18 months from the closing date of the Private
Placement, subject to an accelerated expiry option whereby the Company can
trigger an accelerated 30-day expiry of the Warrants if the closing price of
the Company's Common Shares listed on the TSX-V remain higher than $1.65 for
20 consecutive trading days. On the 20th consecutive trading day above $1.65
(the "*Acceleration Trigger Date*"), the Warrant expiry date may be
accelerated to 30 trading days after the Acceleration Trigger Date by the
issuance of a news release announcing such acceleration, within two trading
days of the Acceleration Trigger Date.

The Company has granted to the Agents an option (the "*Agent's Option*")
which shall allow the Agents to sell up to an additional 15.0% of the Units
sold pursuant to the Private Placement at the Issue Price. The Agent's
Option may be exercised in whole or in part to sell Units as determined by
the Agents upon written notice to the Company at any time up to 48 hours
prior to the closing date of the Private Placement.

In consideration for their services, the Agents will receive a cash
commission equal to 6.0% of the gross proceeds of the Private Placement
(including the Agent's Option) which shall be payable on the closing date of
the Private Placement, and that number of broker warrants ("*Broker
Warrants*") equal to 6.0% of the number of Units sold pursuant to the
Private Placement (including the Agent's Option). Each Broker Warrant shall
be exercisable into one Unit at the Issue Price for a period of 18 months
from the closing date of the Private Placement.

The net proceeds of the Private Placement will be used to fund the
exploration and development of the Company's 100% owned and fully permitted
high grade Tuvatu Gold Project, and for working capital purposes. All
securities issuable pursuant to this financing are subject to a four month
hold period.

The Private Placement is expected to close on or about December 4, 2019, or
such other date as the Company and the Agents may agree, and is subject to
the satisfaction of customary closing conditions, including receipt of all
regulatory approvals, including the approval of the TSX Venture Exchange.

*About Lion One Metals* *Limited*

Lion One's flagship asset is 100% owned, fully permitted high grade Tuvatu
Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One
envisions a low-cost high-grade underground gold mining operation at Tuvatu
coupled with exciting exploration upside inside its tenements covering the
entire Navilawa Caldera, an underexplored yet highly prospective 7km
diameter alkaline gold system. Lion One's CEO Walter Berukoff leads an
experienced team of explorers and mine builders and has owned or operated
over 20 mines in 7 countries. As the founder and former CEO of Miramar
Mines, Northern Orion, and La Mancha Resources, Walter is credited with
building over $3 billion of value for shareholders.

This news release is intended for distribution in Canada only and is not
intended for distribution to United States newswire services or
dissemination in the United States. This news release does not constitute an
offer to sell or a solicitation of an offer to buy any of the Units (or
underlying securities) in the United States or to, or for the account or
benefit of, any U.S. person. The Units (or any underlying securities) have
not been and will not be registered under the United States Securities Act
of 1933, as amended (the "*U.S. Securities Act*"), or any securities laws of
any state of the United States and may not be offered or sold within the
United States or to, or for the account or benefit of, any U.S. person
unless an exemption from such registration requirements is available.
"United States" and "U.S. person" are as defined in Regulation S under the
U.S. Securities Act.

On behalf of the Board of Directors of
Lion One Metals Limited "Walter Berukoff" Chairman and CEO

For further information Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com [1]

*Neither the TSX Venture Exchange nor its Regulation Service Provider
accepts responsibility for the adequacy or accuracy of this release.*

*Cautionary Note Regarding Forward-Looking Statements*

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, and 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 labour 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

Not for distribution to United States Newswire Services or for dissemination
in the United States

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/49771 [2]

Click on, or paste the following link into your web browser,to view the
associated documents http://www.newsfilecorp.com/release/49771
News Source: Newsfile

2019-11-14 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Lion One Metals Limited

ISIN: CA5362161047
EQS News ID: 913657

End of News DGAP News Service

913657 2019-11-14

1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=96412f8f6025548f0e4584c72c323b62&application_id=913657&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=939568d7fc2962f9fcd727f177f74bbd&application_id=913657&site_id=vwd&application_name=news

(END) Dow Jones Newswires

November 14, 2019 17:21 ET ( 22:21 GMT)

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