Lion Rock announces extension of warrants

Vancouver, British Columbia–(Newsfile Corp. – June 26, 2024) – Lion Rock Resources Inc. (TSXV: ROAR) (FSE: KGB1) (THE “Business” Or “Lion Rock“) announces that it has filed with the TSX Venture Exchange an application for approval of an amendment to certain share purchase warrants (the “Warrants”) issued in a private placement, by extending the expiry date by an additional year (the “Warrant Amendment”).

The affected warrants are 3,000,000 stock warrants issued on July 8, 2022 with an expiration date of July 8, 2024 and exercisable at $0.25 per share of common stock. The new expiration date will be July 8, 2025 and the strike price will remain the same. The Company will not send new warrant certificates unless requested by the holder.

In total, 100,000 Warrants are held by parties considered to be “related parties” of the Company. Therefore, the amendment of the warrants constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 respecting the Protection of Minority Shareholders in Special Transactions and TSXV Policy 5.9 – Protection of Minority Shareholders in Special Transactions. special transactions. However, exemptions from the formal valuation and minority approval requirements provided by these guidelines may be invoked to the extent that the fair market value of warrants held by insiders does not exceed 25% of market capitalization of the society.

The modification of the warrants is subject to acceptance by the TSX Venture Exchange.

About Lion Rock Resources Inc.

Lion Rock Resources Inc. is a brownfields exploration company focused on the Maybrun copper-gold project in northwestern Ontario, approximately 80 km from New Gold’s Rainy River gold mine and 15 km from First Mining Gold’s Cameron Lake Project. The Company also holds promising lithium properties in Ontario and Quebec.

On behalf of the board of directors

R. Dale Ginn, President and CEO
604-678-5308
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform. Act of 1995. Forward-looking information includes, but is not limited to, the proposed amendment to the warrant. The words “anticipate,” “material,” “expect,” “may,” “will” and similar expressions are intended to be among the statements that identify forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by the forward-looking information. In preparing the forward-looking information contained in this press release, the Company has applied several material assumptions, including, but not limited to, assumptions that general business and economic conditions will not change materially adversely and that all required information and regulatory approvals will be available in a timely manner. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the information. forward-looking information. These risks and other factors include, among others, risks related to unanticipated delays; availability of capital and financing; general economic, market or business conditions, regulatory changes; as well as the factors discussed in the company’s public disclosure filing. Although the Company has attempted to identify important factors that could affect it and that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events or results not to be as planned, estimated or expected. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. Except as required by law, the Company undertakes no obligation to publicly disclose any revisions to the forward-looking information contained in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of events unforeseen.

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