Announcement • Jun 05

Lion One Metals Limited announced that it expects to receive CAD 17 million in funding from Concept Capital Management Ltd

Lion One Metals Limited announces a non-brokered private placement offering of up to 14,000 convertible debenture units of the Company at a price of CAD 1,000 per Debenture Unit for expected gross proceeds of up to CAD 14,000,000 on June 4, 2026. The Offering is expected to involve Returning investor Concept Capital Management, an arm's-length shareholder of the Company, as lead subscriber and will include other existing shareholders of the Company. In addition to the Offering, the Company is pleased to announce that it intends to proceed with a non- brokered private placement of up to 23,076,923 units at a price of CAD 0.13 per Unit for total gross proceeds of up to CAD 3,000,000. Each Debenture Unit will consist of (i) one 10% subordinated secured convertible debenture having a face value of CAD 1,000, convertible into 7,692 common shares of the Company at a conversion price of CAD 0.13 per Common Share, with a maturity date of 4 years from issuance; and (ii) 7,692 Common Share purchase warrants, each entitling the holder to purchase one Common Share at an exercise price of CAD 0.175 per Common Share for a period of 4 years from issuance. Closing of the Offering may occur in one or more tranches and is expected to occur on or about June 30, 2026. In addition to the previously mentioned condition, closing of the Offering remains subject to the approval of the TSX Venture Exchange. Each Unit consists of one Common Share and one Common Share purchase warrant, each such Warrant exercisable at a price of CAD 0.175 per Common Share and expiring 36 months from the date of issue. The Company may pay a finder's fee on the Private Placement in accordance with the policies of the TSXV. All securities issuable pursuant to the Private Placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. All Convertible Debentures and Warrants issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after the issuance thereof. Interest on the Convertible Debentures will accrue commencing on the issuance date at a rate of 10% per annum and shall be payable annually in arrears. Provided all applicable regulatory approvals have been obtained.

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