Lion One: Announces Amendment to Previously Announced Private Placement Offering of Units

NORTH VANCOUVER, British Columbia, Aug. 05, 2020 (GLOBE NEWSWIRE) — Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) is pleased to announce that, further to its press releases dated July 23, 2020 and July 27, 2020, announcing a private placement offering of units of the Company, the Company has agreed with Haywood Securities Inc. (“Haywood”) to amend the terms of the offering. Pursuant to the amended agreement, Haywood and  Echelon Wealth Partners Inc., as co-lead underwriters on behalf of a syndicate of underwriters, have agreed to purchase, on a “bought deal” private placement basis, (i) 11,765,000 units (the “Tranche 1 Units”) of the Company at a price of C$1.70 per Tranche 1 Unit (the “Tranche 1 Price”) for gross proceeds of C$20,000,500, and (ii) 7,318,000 units (the “Tranche 2 Units” and together with the Tranche 2 Units, the “Units”) of the Company at a price of $2.05 per Tranche 2 Unit (the “Tranche 2 Price”) for gross proceeds of C$15,001,900, for aggregate gross proceeds to the Company of $35,002,400 (the “Offering”).

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