Lion Copper & Gold Reports Unregistered Equity Sale
Ticker: LCGMF · Form: 8-K · Filed: Feb 22, 2024 · CIK: 1339688
| Field | Detail |
|---|---|
| Company | Lion Copper & Gold CORP. (LCGMF) |
| Form Type | 8-K |
| Filed Date | Feb 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $941,813, $0.06, $0.08, $0.25, $0.32 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-sale, unregistered-securities, corporate-action
TL;DR
**Lion Copper & Gold just sold new shares without registering them, watch for potential dilution.**
AI Summary
Lion Copper and Gold Corp. filed an 8-K on February 22, 2024, reporting an unregistered sale of equity securities on February 16, 2024. The filing indicates the company's address as 143 S Nevada St., Yerington, Nevada, and lists its telephone number as (917) 371-2966. This report covers 'Unregistered Sales of Equity Securities' and 'Other Events' as per SEC regulations.
Why It Matters
Unregistered sales of equity can impact a company's capital structure and shareholder dilution, potentially affecting future stock performance.
Risk Assessment
Risk Level: medium — Unregistered sales of equity can lead to dilution for existing shareholders and may raise questions about the company's financing strategy.
Key Players & Entities
- Lion Copper and Gold Corp. (company) — registrant
- February 16, 2024 (date) — date of earliest event reported
- February 22, 2024 (date) — filing date
- 917-371-2966 (dollar_amount) — registrant's telephone number
- Yerington, Nevada (company) — principal executive offices location
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 16, 2024.
What is the exact name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is LION COPPER AND GOLD CORP.
What items of information are included in this 8-K filing?
This 8-K filing includes 'Unregistered Sales of Equity Securities', 'Other Events', and 'Financial Statements and Exhibits'.
Where are Lion Copper and Gold Corp.'s principal executive offices located?
Lion Copper and Gold Corp.'s principal executive offices are located at 143 S Nevada St., Yerington, Nevada, United States 89447.
What is the registrant's telephone number?
The registrant's telephone number, including area code, is (917) 371-2966.
Filing Stats: 591 words · 2 min read · ~2 pages · Grade level 9.4 · Accepted 2024-02-22 17:20:04
Key Financial Figures
- $941,813 — in the aggregate principal amount of US$941,813. The Debentures have a maturity date of
- $0.06 — n shares of the Company at a price of US$0.06 (C$0.08) per share, or at the holder's
- $0.08 — of the Company at a price of US$0.06 (C$0.08) per share, or at the holder's option,
- $0.25 — the Company, at a conversion price of US$0.25 (C$0.32) per Falcon Butte share. Holder
- $0.32 — any, at a conversion price of US$0.25 (C$0.32) per Falcon Butte share. Holders of the
Filing Documents
- form8k.htm (8-K) — 17KB
- exhibit99-1.htm (EX-99.1) — 7KB
- exhibit99-2.htm (EX-99.2) — 6KB
- exhibit99-1x001.jpg (GRAPHIC) — 3KB
- exhibit99-2x001.jpg (GRAPHIC) — 3KB
- 0001062993-24-004106.txt ( ) — 253KB
- lcgmf-20240216.xsd (EX-101.SCH) — 4KB
- lcgmf-20240216_cal.xml (EX-101.CAL) — 1KB
- lcgmf-20240216_def.xml (EX-101.DEF) — 22KB
- lcgmf-20240216_lab.xml (EX-101.LAB) — 45KB
- lcgmf-20240216_pre.xml (EX-101.PRE) — 24KB
- form8k_htm.xml (XML) — 3KB
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities. On February 16, 2024, the Company issued convertible debentures (the " Debentures ") in the aggregate principal amount of US$941,813. The Debentures have a maturity date of 12 months and bear interest at a rate of 20% per annum. The Debentures are convertible into common shares of the Company at a price of US$0.06 (C$0.08) per share, or at the holder's option, may instead be converted in-kind for common shares of Falcon Butte Minerals Corp. held by the Company, at a conversion price of US$0.25 (C$0.32) per Falcon Butte share. Holders of the debentures also received an aggregate of 15,696,883 share purchase warrants (the " Warrants ") each entitling the holder to receive one common share of the Company at an exercise price of US$0.06 (C$0.08) for a period of 12 months. The Debentures and Warrants were issued to eleven accredited investors in private transactions pursuant to Rule 506(b) of Regulation D under the United States Securities Act of 1933, as amended.
01. Other Events
Item 8.01. Other Events. The Company's press releases announcing the offer and sale of the Debentures, are attached as Exhibits 99.1 and 99.2 to this Form 8-K. The press releases are being furnished with this Form 8-K and are not considered filed.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. 99.1 News release dated February 15, 2024 99.2 News release dated February 21, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Lion Copper and Gold Corp. Date: February 22, 2024 (Registrant) /s/ Charles Travis Naugle Charles Travis Naugle, Chief Executive Officer