Vancouver, British Columbia–(Newsfile Corp. – February 24, 2025) – Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH), an innovative Canadian mineral exploration company, is pleased to announce its participation in two major upcoming industry events: the Metals Investor Forum and the PDAC Conference in Toronto.
Emperor Metals has recently achieved key milestones, including fast-tracking the development of the Duquesne West Gold Project – with an upcoming Mineral Resources Estimate – and advancing a strategic proposal to acquire the Lac Pelletier Property in Quebec. These accomplishments represent a crucial stage in the company’s growth. We look forward to sharing detailed updates and insights with investors at the following events:
Metals Investor Forum February 28 – March 1 The Metals Investor Forum is an exclusive, company invite-only event built on two core principles: selectivity and quality. It provides serious investors with a unique opportunity to engage directly with management teams from top-tier resource companies, all of which have been handpicked by experienced newsletter writers. These experts carefully vet each company based on key factors such as management expertise, project potential, jurisdiction, and financials, ensuring only high-caliber exhibitors are featured.
Emperor Metals has been invited to exhibit and present by industry expert Jeff Clark of the Paydirt Prospector. CEO John Florek will be presenting on Saturday, March 1 at 11:50 AM PT at the Delta Hotel.
Investor registration is free, and attendees can join either in person or online via this LINK.
PDAC Convention March 2-5 The PDAC is the leading voice of the mineral exploration and development community, an industry that employs more than 665,000 individuals, and contributed $125 billion to Canada’s GDP in 2021. Currently representing over 8,000 members around the world, PDAC’s work centers on supporting a competitive, responsible, and sustainable mineral sector.
Emperor Metals will be exhibiting in the Investors Exchange, in Booth #2615. We encourage attendees to stop by to meet the team. For more information and/or to register for the conference visit the website.
About Emperor Metals Inc.
Emperor Metals Inc. is a high-grade gold exploration and development junior mining company focused on Quebec’s Southern Abitibi Greenstone Belt, leveraging AI-driven exploration techniques. The company is dedicated to unlocking the substantial resource potential of the Duquesne West Gold Project and the Lac Pelletier Project (currently under purchase agreement) both situated in this Tier 1 mining district. The company is led by a dynamic group of resource sector professionals who have a strong record of success in evaluating and advancing mining projects from exploration through to production, attracting capital and overcoming adversity to deliver exceptional shareholder value.
This release contains forward-looking statements, reflecting current management expectations on future events. These statements are subject to risks and uncertainties; actual outcomes may differ significantly.
Vancouver, British Columbia–(Newsfile Corp. – February 24, 2025) – Riverside Resources Inc.(TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce that it has received the TSX Venture Exchange’s conditional approval for the previously announced spin-out of Blue Jay Gold Corp. (“Blue Jay”) by way of a statutory plan of arrangement (the “Arrangement”) pursuant to the arrangement provisions of the Business Corporations Act (British Columbia). The Arrangement will be voted on by Riverside shareholders at its Annual General and Special Shareholder Meeting scheduled for March 31, 2025 (the “Meeting”). This potential share distribution offers Riverside shareholders, prior to the record date, a similar opportunity to the previous Capitan Silver (CAPT.V) spin-out. In that transaction, Riverside shareholders received shares of Capitan Silver, which have since doubled in value compared to their price at the time of the spinout.
The Arrangement aligns with Riverside’s strategic plans and key 2025 catalysts, positioning the company for continued progress in the coming months. As part of this strategy, Riverside will retain royalties on each of its Ontario gold projects-Pichette, Oakes, and Duc-adding to its growing portfolio of mineral royalties across the U.S., Canada, and Mexico. Additionally, Riverside is actively working on gold, copper, and rare earth element (REE) projects in British Columbia and Sonora, Mexico, with exploration programs funded by partners. These partnerships provide Riverside with carried interests and potential future royalties, further enhancing long-term value for shareholders. Additional information concerning the Arrangement is contained in Riverside’s news release dated January 28, 2025 and will be provided to Riverside shareholders in an information circular in respect of the Meeting.
“The spinout of Blue Jay Gold is an exciting opportunity for Riverside shareholders to gain direct exposure to a new, focused gold exploration company,” said John-Mark Staude, CEO of Riverside Resources. “Under the Arrangement, shareholders will receive one share of Blue Jay Gold for every five shares of Riverside held, giving them a stake in a company dedicated to advancing these high-potential Ontario gold projects. We’ve seen this strategy create additional value in the past. Our previous spinout of Capitan Mining gave shareholders direct ownership in a separate exploration company, and those shares went on to appreciate significantly. By structuring Blue Jay Gold in a similar way, we are unlocking the potential of these assets while allowing Riverside to retain upside through royalties. This approach can provide both immediate and long-term value for our shareholders.”
The Company has taken an additional key step toward completing the spinout with the filing of the National Instrument 43-101 Technical Report for the Pichette Project in Ontario with the TSX Venture Exchange. This report provides scientific data and general context for interested parties to review. The filing aligns with the authorization process for Riverside’s planned Blue Jay Gold share spinout, which will be voted on at the AGM at the end of March. A similar approach was used for Capitan Mining.
The Company has engaged the services of ICP Securities Inc. (“ICP”) to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of February 24, 2025, and is for four (4) months (the “Initial Term”) and shall be automatically renewed for subsequent one (1) month terms (each month called an “Additional Term”) unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the Company in the future.
ICP is an arm’s length party to the Company. ICP’s market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company’s shares. ICP will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities.
Qualified Person for the NI 43-101 Report on Pichette Project
Locke Goldsmith, P Geo, P Eng is the qualified person and independent of the Company for the purpose of this transaction and this technical report which has been submitted to the TSX Venture Exchange.
About ICP Securities Inc.
ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
About Riverside Resources Inc.
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Eric Negraeff Investor Relations Riverside Resources Inc. Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Gold (GC=F) prices are on track to achieve their eighth consecutive week of gains, with forecasts for further upside potentially reaching $3,100 per troy ounce by year-end. Daan Struyven, Goldman Sachs co-head of global commodities research, joins Market Domination hosts Julie Hyman and Alexandra Canal to discuss the details.
Struyven emphasizes how the shift in central bank behavior stems from Russia’s central bank reserves being frozen in 2022. This influenced investments in the US and Europe.
“It was a wake-up call to [emerging-market] EM central bank reserve managers because they realized that their assets would not necessarily be risk-free,” he explains. “So they have shifted part of their reserves to buying gold, an asset which cannot be frozen or confiscated.”
“We have seen a five-fold increase in the rhythm of gold purchases by central banks,” Struyven adds. “We think this is a structural shift, and we expect ongoing solid above-trend central bank purchases of gold to continue to push gold prices higher.”
In this insightful episode of Proven and Probable, host Maurice Jackson delves into the compelling reasons why now is an opportune time to invest in gold. He examines current economic indicators, market trends, and historical data that suggest a favorable environment for gold investments. Jackson also offers strategic insights on how to effectively incorporate gold into your investment portfolio.
Key Topics Discussed:
Impact of inflation and currency fluctuations on gold prices
Historical performance of gold during economic downturns
Strategies for diversifying portfolios with precious metals
Long-term benefits of holding gold assets
Whether you’re a seasoned investor or new to precious metals, this episode provides valuable perspectives to help you navigate the complexities of the current financial landscape.
Connect with Us: Call Me Directly: 855.505.1900 Website: Proven and Probable Twitter: @ProvenProbable Facebook: Proven and Probable Don’t forget to like, share, and subscribe for more expert insights on precious metals and resource investments.
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
U.S. President Donald Trump has imposed a 25% tariff on all steel and aluminum imports, marking one of the most discussed measures of his first month back in the White House.
But which countries are most affected by these tariffs?
This map illustrates the top suppliers of aluminum and steel to the United States in 2024. The data comes from the U.S. Census Bureau.
Canada: The Largest Partner
Canada is by far the top supplier of both steel and aluminum to the United States. The neighboring country exported $9.4 billion worth of aluminum to the U.S. in 2024, significantly ahead of the second-largest exporter, the European Union, which exported $1.5 billion.
Canada also exported $7.1 billion worth of steel last year, compared to $7 billion from the European Union.
Country
Steel Imports (USD)
Aluminum Imports (USD)
Canada
$7.1B
$9.4B
Mexico
$3.5B
$397M
Brazil
$3.0B
–
China
$799M
$809M
Taiwan
$1.3B
–
South Korea
$2.9B
$781M
Germany
$1.9B
$318M
Japan
$1.7B
–
India
$489M
$445M
European Union
$7B
$1.5B
UAE
–
$917M
Bahrain
–
$535M
Argentina
–
$468M
Thailand
–
$271M
UK
$440M
–
Mexico, South Korea, and Brazil are also among the top suppliers of steel to the United States. Meanwhile, the country imports aluminum from other key partners, including China, the United Arab Emirates, South Korea, Bahrain, and Argentina.
A recent report by the Center for Strategic and International Studies (CSIS) noted that the U.S. produces less than 2% of the world’s primary aluminum.
Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto · Reuters
(Reuters) – Canadian miner Barrick Gold has signed a new agreement with the Malian government to end an almost two-year-old dispute over its mining assets in the West African country, two people familiar with the developments told Reuters on Wednesday.
Barrick signed the agreement and now it is up to the Mali government to formally approve the deal, the sources told Reuters. An official announcement could come as early as Thursday.
As part of the new agreement, Barrick will pay 275 billion CFA or $438 million to the Mali government, in return for the release of detained employees, seized gold, and restarting the operations at the Loulo-Gounkoto mine.
Barrick did not respond to an email query by Reuters. A spokesperson for Mali’s mines ministry declined to comment.
The Toronto-based miner and Mali have been locked in a dispute since 2023 over the implementation of the West African country’s new mining code that gives Mali government a greater share in the country’s gold mine.
(Reporting by Divya Rajagopal, Giulia Paravicini and Portia Crowe, editing by Silvia Aloisi)
North Vancouver, British Columbia–(Newsfile Corp. – February 19, 2025) – Lion One Metals Limited(TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to report significant new high-grade gold results from 3,312.5 meters of near mine exploration and infill drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The drilling is focused on the West Zone target west of the Tuvatu Gold Mine.
The West Zone is located approximately 300 m to the west of the main Tuvatu deposit, in close proximity to existing mine infrastructure. Drilling was conducted from two surface drill pads and consisted of resource infill and expansion drilling with the purpose of bringing the West Zone into the long term mine plan for Tuvatu. High-grade mineralized structures were intersected in 14 drill holes. Drill results include multiple bonanza grade gold assays such as 896.00 g/t, 306.78 g/t, 264.55 g/t, and 178.55 g/t gold over narrow widths of 0.3 m. All high-grade gold results were intersected between 30 m and 150 m depth from surface. The West Zone is hypothesized to have a separate feeder system from Tuvatu and represents a prime target for near-mine resource expansion at Tuvatu. Bonanza grade gold results are not uncommon at the West Zone, with previous drill results including 105.20 g/t over 2.1 m and 102.38 g/t over 1.2 m (see news release dated October 1, 2024). The West Zone drill program is ongoing.
Lion One Chairman and CEO Walter Berukoff commented: “We’re very pleased with the new results from our West Zone drill program. The West Zone is an excellent near mine expansion target. It is readily accessible from existing infrastructure and it consistently returns high grade results from near surface drilling. We look forward to adding the West Zone to our long-term mine plan at Tuvatu.”
Highlights of New Drill Results:
198.84 g/t Au over 1.4 m (including 896.00 g/t Au over 0.3 m) (TUDDH-764, from 34.17 m depth)
61.24 g/t Au over 2.0 m (including 264.55 g/t Au over 0.3 m) (TUDDH-773, from 200 m depth)
306.78 g/t Au over 0.3 m (TUDDH-773, from 213 m depth)
35.79 g/t Au over 1.7 m (including 178.55 g/t Au over 0.3 m) (TUDDH-773, from 182 m depth)
6.68 g/t Au over 4.4 m (TUDDH-758, from 102.81 m depth)
31.00 g/t Au over 1.0 m (including 67.00 g/t Au over 0.3 m) (TUDDH-758, from 75.5 m depth)
13.76 g/t Au over 1.9 m (including 29.28 g/t Au over 0.3 m) (TUDDH-763, from 86.2 m depth)
15.17 g/t Au over 1.5 m (including 27.99 g/t Au over 0.4 m) (TUDDH-762, from 75.55 m depth)
23.60 g/t Au over 0.9 m (TUDDH-774, from 48 m depth)
61.58 g/t Au over 0.3 m (TUDDH-759, from 62.6 m depth)
*Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known. See Table 1 for additional data.
Figure 1. Location of the West Zone drilling reported in this news release. Left image: Plan view of the West Zone drilling in relation to the mineralized lodes shown in grey and Tuvatu underground development shown in red. Right image: Section view of the West Zone drilling looking east.
The West Zone is located approximately 300 m to the west of the main Tuvatu deposit. It is modelled as a series of mainly east-west oriented lodes dipping steeply to the south. High grade gold has been sampled at surface in the West Zone and the area is coincident with a steeply dipping CSAMT gradient. Given the steeply dipping nature of the mineralized lodes both at Tuvatu and at the West Zone, and given the horizontal distance between the two systems, it is unlikely that they are fed by the same feeder zone. It is therefore hypothesized that there is a separate feeder zone located at depth below the West Zone, which would be distinct from the very high-grade Zone 500 feeder zone at Tuvatu.
The drilling reported here is focused on the near-surface portion of the West Zone system and consists predominantly of infill drilling in areas of low drill density. The purpose of the program is to increase understanding of the near-surface structure and mineralization of the West Zone. The objective is to bring the West Zone into the long-term mine plan at Tuvatu, and the current drill program will help inform that process. Given the proximity of the West Zone to existing surface infrastructure, a second portal may be opened to provide direct underground access to the West Zone. Alternatively, an underground access drive could be developed from Tuvatu. The high-grade results reported here not only serve to further define the resource, but also to help determine which development option is preferred.
Figure 2. West Zone drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Section view looking east. High-grade gold mineralization is intersected near surface in the West Zone.
The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and has been reviewed and approved by Melvyn Levrel, who is the company’s Senior Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”). Mr Levrel consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.
Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.
Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors, Walter Berukoff, Chairman & CEO
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Appendix 1: Full Drill Results and Collar Information
Table 1. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth
TUDDH-757
1875838
3920802
141
139.5
-28.7
182.0
TUDDH-758
1875837
3920802
141
143.4
-51.5
201.5
TUDDH-759
1875837
3920802
141
150.3
-43.5
153.6
TUDDH-762
1875837
3920801
142
166.8
-8.1
106.5
TUDDH-763
1875837
3920802
141
165.1
-29.9
280.0
TUDDH-764
1875836
3920802
142
185.4
-21.1
200.0
TUDDH-765
1875836
3920802
141
180.4
-42.7
290.0
TUDDH-766
1875836
3920802
140
182.5
-50.1
280.0
TUDDH-769
1875836
3920803
141
184.9
-60.5
218.5
TUDDH-771
1875835
3920801
141
198.2
-30.1
14.4
TUDDH-772
1875835
3920802
141
198.3
-31.3
230.6
TUDDH-773
1875972
3920693
211
310.4
-57.2
350.0
TUDDH-774
1875836
3920802
141
199.7
-48.2
170.4
TUDDH-775
1875835
3920803
141
205.1
-58.8
134.9
TUDDH-776
1875834
3920802
141
218.1
-30.0
230.0
TUDDH-777
1875973
3920695
211
346.5
-56.7
270.1
Table 2. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au, with <1 m internal dilution at <3.0 g/t Au).
North Vancouver, British Columbia–(Newsfile Corp. – February 14, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“), is pleased to announce that the Company has closed the underwritten offering (the “Offering“) previously announced on February 5, 2025 by issuing 25,367,647 units of the Company (the “Units“) at a price of $0.34 per Unit (the “Offering Price“) for aggregate gross proceeds of $8,625,000.00, which includes the exercise, in full, by the Underwriters (as defined below) of the over-allotment option granted by the Company to purchase up to an additional 3,308,823 Units at the Offering Price pursuant to the terms of an underwriting agreement (the “Underwriting Agreement“) dated as of February 10, 2025, among the Company, Stifel Nicolaus Canada Inc. (the “Lead Underwriter“) and Canaccord Genuity Corp. (together with the Lead Underwriter, the “Underwriters“).
Concurrently with the Offering, the Company completed a non-brokered private placement (the “Sidecar Private Placement“) of 6,431,114 Units on the same terms as the Offering for gross proceeds of $2,186,578.76 pursuant to applicable exemptions under National Instrument 45-106 – Prospectus Exemptions. All securities issuable pursuant to the Sidecar Private Placement will be subject to a four month hold period in accordance with applicable Canadian securities laws, expiring on June 15, 2025.
In aggregate, under the Offering the Company issued 31,798,761 Units for gross proceeds of $10,811,578.74.
Each Unit consists of one common share (a “Common Share“) in the capital of the Company and one 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$0.41 for a period of 36 months from the closing date of the Offering. The Company has applied to list the Warrants issued pursuant to the Offering on the TSX Venture Exchange, subject to the satisfaction of listing conditions which are currently in process.
In connection with the Offering, the Company paid to the Underwriters a cash commission of $603,750.00, which was equal to 7.0% of the gross proceeds from the Offering, and issued an aggregate of 1,775,735 broker warrants, equal to 7.0% of the number of Units sold pursuant to the Offering. In connection with the Sidecar Private Placement, the Company paid finder’s fees in an aggregate amount of $76,377.60 in cash and issued 224,640 broker warrants. Each broker warrant is exercisable for one Common Share at a price of C$0.34 for a period of 36 months from the closing date of the Offering.
The net proceeds received by the Company from the sale of the Units will be used for mining and mill equipment and ongoing exploration activities at the Tuvatu Gold project located in Fiji, as well as for general corporate expenses & purposes. The Units issued pursuant to the Offering were qualified for distribution by way of a prospectus supplement of the Company dated February 10, 2025 (the “Prospectus Supplement“) to the Company’s existing short form base shelf prospectus dated January 31, 2025 (the “Base Shelf Prospectus“) filed in all of the Provinces and Territories of Canada, and offered and sold in all the Provinces and Territories of Canada other than Quebec and Nunavut and to eligible purchasers by way of available prospectus exemptions in certain jurisdictions outside of Canada. The Base Shelf Prospectus, the Prospectus Supplement, the documents incorporated by reference therein and the Underwriting Agreement are available on the Company’s profile on SEDAR+ at www.sedarplus.ca.
Certain subscribers under the Sidecar Private Placement are directors and management of the Company. The issuance of Units to directors and management of the Company constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the “United States” (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable U.S. state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Lion One Metals Limited
Lion One is an emerging Canadian gold producer headquartered in North Vancouver, B.C., with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors of Lion One Metals Limited “Walter Berukoff“ Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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WASHINGTON/SINGAPORE/TAIPEI (Reuters) -The White House is seeking to renegotiate U.S. CHIPS and Science Act awards and has signaled delays to some upcoming semiconductor disbursements, two sources familiar with the matter told Reuters.
The people, along with a third source, said the new administration is reviewing the projects awarded under the 2022 law, meant to boost American domestic semiconductor output with $39 billion in subsidies.
Washington plans to renegotiate some of the deals after assessing and changing current requirements, according to the sources. The extent of the possible changes, and how they would affect agreements already finalized, was not immediately clear. It was not known whether any action has yet been taken.
“The CHIPS Program Office has told us that certain conditions that do not align with President (Donald) Trump’s executive orders and policies are now under review for all CHIPS Direct Funding Agreements,” GlobalWafers spokesperson Leah Peng said in a statement to Reuters.
Taiwan’s GlobalWafers, which said it has not been notified directly by Washington of any changes to the conditions or terms of their awards, is set to receive $406 million in U.S. government grants for projects in Texas and Missouri. The company is currently set to receive subsidies only after it achieves specific milestones later in 2025.
Illustration picture of semiconductor chips on a circuit board
Each award recipient has distinct terms and milestones in their agreements.
Four sources with knowledge of the discussions told Reuters that the White House is concerned about many of the terms underpinning the $39 billion Chips and Science Act industry subsidies.
Those encompass additional clauses, including requirements added into contracts by the administration of President Joe Biden, including that recipients must use unionized labor to build factories and help provide affordable childcare for factory workers.
The White House and the U.S. Department of Commerce did not immediately respond to requests for comment.
The Semiconductor Industry Association, a trade group representing the chip industry, has started asking members how the program could be improved.
But David Isaacs, vice president of government affairs for the group, said: “It’s important both the manufacturing incentives and research programs proceed without disruption, and we stand ready to work with Commerce Secretary Nominee (Howard) Lutnick and other members of the Trump administration to streamline the program’s requirements and achieve our shared goal of strengthening U.S. leadership in chip technology.”
Since taking office, Trump has issued a series of executive orders aimed at dismantling diversity, equity and inclusion programs across the federal government and the private sector.
One of the sources said the White House is also frustrated by companies that accepted CHIPS Act subsidies and then announced significant overseas expansion plans, including in China. The law allowed some investments in China.
Intel (INTC), for example, announced a $300 million investment in a Chinese assembly and test facility in October, after saying in March that it had won a major award under the CHIPS Act.
Many of the biggest recipients of the CHIPS Act funding – including Intel, TSMC (TSM), Samsung Electronics and SK Hynix – all have major manufacturing facilities in China.
Intel disclosed it had received two payments totaling $2.2 billion in funding from the CHIPS Act, but declined to comment.
A TSMC spokesperson said the company had received $1.5 billion in CHIPS Act monies before the new administration came in as per the milestone terms of its agreement.
The spokesperson declined comment on any possible changes to its agreement under Trump but said the company is continuing to engage with the Chips Program Office.
Samsung, SK Hynix and Hemlock Semiconductor declined to comment, while Bosch referred Reuters to the Chips Office. Micron and GlobalFoundries did not respond to requests for comment.
(Reporting by Mike Stone and Karen Freifeld in Washington, Fanny Potkin in Singapore, Wen-Yee Lee in Taipei and Stephen Nellis and Max Cherney in San FranciscoWriting by Stephen Nellis and Fanny Potkin; Editing by Chris Sanders and Matthew Lewis)
Production at Krastsvetmet precious metals plant in Krasnoyarsk · Reuters
By Polina Devitt
LONDON (Reuters) – Gold prices have marched into uncharted territory as bulls latch on to economic uncertainty created by U.S. import tariff plans, but behind the prize of hitting a record $3,000 per ounce, some flags of a bear case are also being planted.
Bullion has had a storming start to 2025, smashing eight records to rise more than 10% by February 11. That followed its biggest annual gain in 14 years in 2024, on a heady mix of strong central bank purchases, geopolitical uncertainties and monetary policy easing.
Gold’s appeal as a haven from risk strengthened further as newly elected U.S. President Donald Trump turned to tariffs to aid struggling domestic industry, despite the risk of sparking a trade war.
When Trump raised tariffs on steel and aluminium this week, spot gold hit a record $2,942.70 per ounce.
“What we have seen is the change in the motive for safe-haven buying – from being driven by the Middle East uncertainty to the threat and realisation of tariffs,” said Philip Newman, managing director at consultancy Metals Focus.
The scale of last year’s growth, which started before the Federal Reserve started easing interest rates, was unexpected, with investors apparently willing to disregard the opportunity cost of holding zero-yielding gold. The market also often de-coupled from other usual headwinds such as a stronger dollar.
“Strikingly, gold was rallying as inflation eased, and it looked as though all of our understanding of how gold prices behaved was being challenged,” said independent analyst Ross Norman.
Gold bulls have been emboldened by concerns that U.S. tariff plans could affect gold supplies to the United States, where Comex gold futures trade.
As a result, the premium at which most-active U.S. gold futures trade over the London spot price – historically just a few dollars – saw wild volatility and widened to $40 per ounce just before Trump’s inauguration on January 20 and more than $60 during the inauguration week.
Market players sought to benefit from a lucrative arbitrage opportunity or to cover their existing Comex positions, with the premium attracting massive deliveries to Comex gold inventories. These have jumped by 18.6 million troy ounces, worth $54 billion, since late November.
As bullion market players in London – home to the world’s largest over-the-counter gold trading hub – rushed to borrow gold from central banks storing bullion in Bank of England vaults, the waiting time to load gold out of the BoE swelled.
Switzerland and Asia-focused hubs saw a jump in supplies to the U.S., and gold lease rates surged both in London and India.
ACTIVITY PREDICTED TO FADE
But by Tuesday, the Comex premium had narrowed to $28 per ounce, and even while residuary inflows to Comex gold stocks continue, traders and analysts expect the activity to fade.
“Following a surge of gold imports into New York, it seems likely that the dislocation between New York futures prices and the London OTC market is nearing an end,” said John Reade, senior market strategist at the World Gold Council.
“As the next few weeks pass, queues getting gold from the Bank of England’s vaults should diminish, easing an apparent shortage of liquidity in the London market.”
Nicky Shiels, head of metals strategy at MKS PAMP SA, said that while prices could break out towards $3,200, resolution of physical gold dislocations attributed to tariffs and potential structural changes including reduced risk appetite, reduced participation and reduced liquidity are increasingly bearish.
She said her firm’s average price forecast for 2025 would remain at $2,750, with no intention to revise forecasts up. “If anything, the recent structural developments these past months have strengthened the bear case for gold,” she said.
Further pointing to potential easing in the rally once the situation with tariffs becomes clear, jewellery demand has been depressed by high gold prices, with discounts offered in key markets India and China. [GOL/AS]
Cartier maker Richemont said in November it was having to be “extremely cautious” about passing on soaring gold prices in its pricing of watches and jewellery.
Emerging market central banks, according to BofA Securities, are at risk of reducing gold buying if domestic currencies weaken on the U.S. tariffs.
Physically backed gold exchange-traded funds, which store bullion for investors, have also been relatively quiet, seeing inflows in Europe-listed funds but outflows in North America in January.
From a technical perspective, gold has been in the overbought zone of its relative strength index since the start of February. And gold can meet strong resistance around big milestones like $3,000 – gold faltered just above the $2,000 level several times before a decisive break last year.
(Reporting by Polina Devitt; Additional reporting by Ashitha Shivaprasad; Editing by Veronica Brown and Jan Harvey)
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