Following on from Marathon Gold’s (MOZ.to) treatment of its loyal retail shareholders last week, yesterday evening brought another example of how junior mining C-suites regard the people who pay their salaries from Lion One Metals (LIO.v):
North Vancouver, B.C., Sept. 20, 2022 Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) is pleased to announce that it has entered into an agreement with Eight Capital and Canaccord Genuity Corp., as co-lead underwriters and joint bookrunners (the “Underwriters“), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis,16,240,000 units of the Company (the “Units“) at a price of C$0.77 per Unit (the “Issue Price”), for total gross proceeds of C$12,504,800 (the “Offering“).
Each Unit will consist of one common share (a “Common Share”) in the capital of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share”) at a price per Warrant Share of C$1.05…(continues here)
And before we get to the necessary Kermit image, here’s what that deal looks like compared to the LIO.v long-term price chart:
Rather too similar to the MOZ news last week for comfort, we note. And on the subject of comfort, cue Kermit:
Thank you, Kermit.