debt
confidence high
sentiment neutral
materiality 0.70
Lion Copper and Gold completes $1M private placement and $1.92M debt settlement via shares and warrants
LION COPPER & GOLD CORP.
- Completed private placement: 23,809,522 units at $0.042/unit for $1M gross, each with a 5-yr warrant at $0.056.
- Settled $1,924,239 of debt by issuing 4,107,998 units and 41,707,215 shares at $0.042 per share.
- Director Tony Alford acquired ~35.9M shares (debt settlement) and ~9.8M units (placement), now ~27.6% undiluted.
- Securities have 4-month Canadian hold and US restrictions; proceeds for working capital.
- Proposed refinance of up to $3.95M of 14% convertible debentures into new 20% debentures or shares for debt.