Source: Lion Copper and Gold Corp.
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  • Lion Copper and Gold Corp. (LEO) has signed a debt settlement agreement with a creditor to issue shares to settle $100,000 owed to the creditor
  • Lion Copper and Gold Corp will issue 1,212,121 common shares of the company at a deemed price of $0.0825 per share
  • The company also wishes to clarify that in connection with the sale of the convertible debentures, it issued to the purchasers one detachable warrant for every US$0.06 (C$0.077) of principal amount of the convertible debentures subscribed for
  • Lion Copper and Gold Corp. is a Canadian-based company advancing its flagship MacArthur Copper Project in Mason Valley, Nevada
  • Lion Copper and Gold Corp. was unchanged at C$0.08 at 12:55 PM ET

Lion Copper and Gold Corp. (LEO) has signed a debt settlement agreement with a creditor.

Lion Copper and Gold Corp will issue 1,212,121 common shares of the company at a deemed price of $0.0825 per share to the creditor.

The debt of $100,000 was incurred following an option agreement between the company and the creditor dated January 26, 2022.

The common shares issued in connection with the debt settlement are subject to the approval of the TSX Venture Exchange and will be subject to a four-month hold period.

The company also wishes to clarify that in connection with the sale of the convertible debentures, the company issued the purchasers one detachable warrant for every US$0.06 (C$0.077) principal amount of the convertible debentures subscribed for.

Each warrant can be exercised to acquire a common share of the company at a price of US$0.06 (C$0.077) for a period of 20 months.

Lion Copper and Gold Corp. is a Canadian-based company advancing its flagship MacArthur Copper Project in Mason Valley, Nevada, in addition to advancing its exploration projects including the Chaco Bear and Ashton properties in highly prospective regions in British Columbia, Canada, and the Blue Copper Prospect in Montana, USA.

Lion Copper and Gold Corp. was unchanged at C$0.08 at 12:55 PM ET.

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