Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) is pleased to announce that it has closed its previously announced and upsized non-brokered private placement for gross proceeds of $18,715,153. Pursuant to the LIFE Offering, the Company issued 58,484,853 units at a price of $0.32 per Offered Unit, pursuant to the listed issuer financing exemption available under National Instrument 45-106 – Prospectus Exemptions. Each Offered Unit consisted of one common share of the Company and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.42 for a period of three years from the date of issuance.

Lion One’s CEO Ian Berzins stated: “We’re very pleased with the strong demand we received for this upsized private placement. With the equity financing successfully completed today, we can now accelerate the purchase of several key pieces of underground mobile equipment and ensure the completion of the flotation plant in Q1 2026. With the addition of these components we will be well positioned to continue ramping up production at Tuvatu.”

The Company intends to use the net proceeds from the LIFE Offering to fund the development of the Company’s 100% owned and fully permitted high grade Tuvatu Gold Project, repayment of principal and interest for the Company’s loan facility with Nebari, and for working capital purposes.

In connection with the LIFE Offering, the Company paid aggregate finder’s fees of $703,468.15 in cash and issued 2,190,462 finders warrants to Canaccord Genuity, Couloir Securities, Golden Capital Consulting, Haywood Securities, Leede Financial, Red Cloud Securities, RedPlug, Research Capital, and Ventum Financial, in accordance with the policies of the TSX Venture Exchange representing a cash commission equal to 7% of the gross proceeds raised from purchasers introduced to the Company by eligible finders and 7% of the aggregate number of Offered Units sold to purchasers introduced to the Company by eligible finders. In lieu of receiving $315,000 in cash, one finder received 984,375 Offered Units at the Issue Price. Each of the Finder’s Warrant will entitle the holder to purchase one Common Share at a purchase price of $0.32 per Finder’s Warrant exercisable for a period of two years from the date of issuance of such Finder’s Warrant.

The Offered Units and underlying Common Shares and Warrants will not be subject to Canadian resale restrictions in accordance with applicable Canadian securities laws. All Finder’s Warrants and any Common Shares underlying the Finder’s Warrants will be subject to a Canadian four month and one day resale restriction in accordance with applicable Canadian securities laws. Completion of the LIFE Offering and payment of the finder’s fees remains subject to final TSX-V acceptance.

Certain subscribers under the LIFE Offering are directors and management of the Company. The issuance of Offered Units to directors and management of the Company constitutes a “related party transaction” as defined under Multilateral Instrument 61-101. The transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.

About Lion One Metals Limited

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.