Lion One Metals (TSXV: LIO) (OTCQX: LOMLF) announces its removal from the Australian Securities Exchange (ASX) official list, effective August 5, 2024. The delisting follows a voluntary application submitted on June 24, 2024, due to low trading frequency and volumes of CDIs on ASX compared to TSX-V. Only 5.89% of the company’s total issued share capital is held on the Australian CDI register as of July 31, 2024.
Post-delisting, Lion One’s shares will continue trading on TSX-V (LIO) and OTCQX (LOMLF). CDIs will be automatically converted to TSX-V listed shares on a 1:1 basis, registered in book-entry form (DRS) on the Canadian share register. Shareholders will need to make arrangements with a Canadian broker to trade shares on TSX-V.
Lion One Metals (TSXV: LIO) (OTCQX: LOMLF) annuncia la sua rimozione dalla lista ufficiale della Borsa Australiana (ASX), a partire dal 5 agosto 2024. La delistazione segue una richiesta volontaria presentata il 24 giugno 2024, a causa della bassa frequenza di trading e dei volumi di CDI sull’ASX rispetto al TSX-V. Solo il 5,89% del capitale sociale totale emesso dalla società è detenuto nel registro CDI australiano al 31 luglio 2024.
Dopo la delistazione, le azioni di Lion One continueranno a essere scambiate sul TSX-V (LIO) e OTCQX (LOMLF). I CDI saranno automaticamente convertiti in azioni quotate sul TSX-V su base 1:1, registrati in forma dematerializzata (DRS) nel registro azionario canadese. Gli azionisti dovranno organizzarsi con un broker canadese per negoziare azioni sul TSX-V.
Lion One Metals (TSXV: LIO) (OTCQX: LOMLF) anuncia su retirada de la lista oficial de la Bolsa Australiana (ASX), a partir del 5 de agosto de 2024. La eliminación sigue a una solicitud voluntaria presentada el 24 de junio de 2024, debido a la baja frecuencia de negociación y volúmenes de CDIs en ASX en comparación con TSX-V. Solo el 5.89% del capital social total emitido de la empresa se mantiene en el registro de CDI australiano al 31 de julio de 2024.
Tras la eliminación, las acciones de Lion One seguirán negociándose en TSX-V (LIO) y OTCQX (LOMLF). Los CDIs se convertirán automáticamente en acciones listadas en TSX-V en una relación de 1:1, registradas en forma de libro (DRS) en el registro de acciones canadiense. Los accionistas deberán hacer arreglos con un corredor canadiense para negociar acciones en TSX-V.
라이온 원 금속 (TSXV: LIO) (OTCQX: LOMLF)이 2024년 8월 5일부터 호주 증권 거래소(ASX) 공식 목록에서 삭제된다고 발표했습니다. 이번 상장 폐지는 2024년 6월 24일에 제출된 자발적인 신청에 따른 것으로, TSX-V에 비해 ASX에서의 CDI 거래 빈도와 거래량이 낮기 때문입니다. 2024년 7월 31일 기준으로 회사 총 발행 주식 자본의 단 5.89%만 호주 CDI 등록부에 보관되고 있습니다.
상장 폐지 후에도 라이온 원의 주식은 TSX-V (LIO)와 OTCQX (LOMLF)에서 계속 거래됩니다. CDIs는 자동으로 TSX-V에 상장된 주식으로 1:1 비율로 전환되며, 캐나다 주식 등록부의 장부 기록 형태(DRS)로 등록됩니다. 주주들은 TSX-V에서 주식 거래를 위해 캐나다 중개인과의 거래를 준비해야 합니다.
Lion One Metals (TSXV: LIO) (OTCQX: LOMLF) annonce son retrait de la liste officielle de la Bourse Australienne (ASX) à compter du 5 août 2024. Ce retrait fait suite à une demande volontaire soumise le 24 juin 2024, en raison de la faible fréquence de négociation et des volumes de CDI sur l’ASX par rapport au TSX-V. Seulement 5,89% du capital social total émis par la société est détenu dans le registre CDI australien au 31 juillet 2024.
Après le retrait, les actions de Lion One continueront d’être négociées sur le TSX-V (LIO) et l’OTCQX (LOMLF). Les CDIs seront automatiquement convertis en actions enregistrées au TSX-V sur une base de 1:1, enregistrées sous forme de livre de comptes (DRS) dans le registre canadien des actions. Les actionnaires devront prendre des dispositions avec un courtier canadien pour négocier des actions sur le TSX-V.
Lion One Metals (TSXV: LIO) (OTCQX: LOMLF) gibt bekannt, dass es ab dem 5. August 2024 von der offiziellen Liste der Australian Securities Exchange (ASX) entfernt wird. Die Delistung erfolgt auf Grundlage eines freiwilligen Antrags, der am 24. Juni 2024 eingereicht wurde, aufgrund der niedrigen Handelsfrequenz und des niedrigen Volumens von CDIs an der ASX im Vergleich zur TSX-V. Lediglich 5,89% des gesamten ausgegebenen Aktienkapitals des Unternehmens wird zum Stichtag 31. Juli 2024 im australischen CDI-Register geführt.
Nach der Delistung werden die Aktien von Lion One weiterhin an der TSX-V (LIO) und OTCQX (LOMLF) gehandelt. Die CDIs werden automatisch im Verhältnis 1:1 in an der TSX-V gelistete Aktien umgewandelt, die in Form von Buchhaltung (DRS) im kanadischen Aktienregister registriert sind. Die Aktionäre müssen Vereinbarungen mit einem kanadischen Broker treffen, um Aktien an der TSX-V zu handeln.
Positive
- Reduction in financial, administrative, and compliance costs associated with ASX listing
- Continued trading on TSX-V and OTCQX markets, providing liquidity for shareholders
Negative
- Loss of ASX listing may reduce visibility and access for Australian investors
- CDI holders will need to make new arrangements with Canadian brokers to trade shares on TSX-V
North Vancouver, British Columbia–(Newsfile Corp. – August 4, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (Lion One or the Company) announces that pursuant to Listing Rule 17.12, Australian Securities Exchange (ASX) has advised the Company that it will be removed from the official list of the ASX pursuant to ASX Listing Rule 17.12 (Delisting). The Company’s CHESS Depositary Interests (CDIs) are currently suspended from trading on ASX.
The Company notes that a voluntary delisting application was submitted to ASX on June 24, 2024.
Following the Company’s Delisting, the Company’s common shares (Shares) will continue to be traded on the TSX Venture Exchange (TSX-V) under the trading symbol LIO and on the OTCQX under the trading symbol LOMLF.
Reasons for Delisting from the ASX
Lion One sought a voluntary delisting from the ASX due to the ongoing low frequency of trading, low volumes traded and limited index inclusion of CDIs traded on ASX as compared to that of the TSX-V. The percentage of CDIs held on the Australian CDI register is approximately
The Company believes that the financial, administrative and compliance obligations and costs associated with maintaining an ASX listing are no longer in the best interests of its shareholders as a whole.
The Company acknowledges ASX’s decision to remove Lion One from the official list pursuant to Listing Rule 17.12, despite the Company’s request for a voluntary delisting.
Indicative Timetable
The timetable for the Delisting is:
| Time / Date | Event |
| Monday, 5 August 2024 | Removal Date Effective date of removal of Lion One from the Official List. CDIs will automatically be converted, post Delisting, into Shares on the Canadian share register. ASX Settlement Pty Ltd to revoke the approval of CDIs and close the CHESS subregister, one of the Australian subregisters on which some CDIs are held. |
| Thursday, 8 August 2024 | Revocation of Trust and Automatic Conversion to TSX-V listed Shares CHESS Depositary Nominees Pty Limited revokes the trust under which it holds the Shares underlying the CDIs. Process to automatically convert all CDIs into TSX-V listed Shares on the Canadian share register commences. |
| Time / Date | Event |
| Wednesday, 14 August 2024 | Issuance Date of the Shares in the Direct Registration System (DRS) (i.e. uncertificated) to the former CDI holders. |
| Friday, 16 August 2024 | Despatch of the DRS advices. |
All dates in this announcement refer to Sydney time. These dates are indicative only and subject to change by the Company or ASX. The Company will announce any amendment made to the indicative dates.
Outcome applicable to CDI holders upon Delisting
In summary, due to the Company being removed from the Official List, CDI Holders will have all their CDIs automatically converted, on a 1:1 basis, into Shares listed on the TSX-V registered directly in their own name in book-entry form (i.e. uncertificated) on the Canadian share register in DRS. DRS is the equivalent of holding Shares in issuer sponsored form in Australia and evidenced by a DRS advice, posted to their registered address.
Trading Shares on the TSX-V
Securityholders can only trade Shares on the TSX-V if they are held through the Canadian Central Securities Depository (CDS). As the Shares, resulting from the automatic conversion, will be registered directly in the former CDI holder’s own name in book-entry form in DRS on the Canadian share register, the holder will not be able to trade their Shares on the TSX-V without first making independent arrangements with a broker in Canada (or an Australian broker that has a relationship with a financial institution in Canada) who can (i) facilitate the electronic deposit of the Shares into CDS and (ii) trade them on the TSX-V.
If holders do not have a broker, or their usual Australian broker cannot assist them, visit www.asx.com.au, click ‘Investors’, then scroll down to click ‘learn more’ next to the ‘Find a broker or adviser’ heading for information that may assist with finding a suitable broker.
Consequences of Delisting
The main consequence of the Company’s Delisting for CDI holders is that, from the time the Delisting takes effect, CDIs will no longer be quoted or traded on ASX.
If CDI holders have any questions about the Delisting process, they can contact Computershare on 1300 850 505 (within Australia) or +61 3 9415 4000 (outside Australia) between 8:30am and 5:00pm (Australian Eastern Standard Time).
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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218808
FAQ
When will Lion One Metals (LOMLF) be delisted from the ASX?
Lion One Metals (LOMLF) will be delisted from the ASX effective August 5, 2024.
Why is Lion One Metals (LOMLF) delisting from the ASX?
Lion One Metals (LOMLF) is delisting due to low trading frequency, low volumes, and index inclusion of CDIs on ASX compared to TSX-V, as well as to reduce costs associated with maintaining the ASX listing.
What happens to CDIs held by Lion One Metals (LOMLF) shareholders after delisting?
CDIs will be automatically converted to TSX-V listed shares on a 1:1 basis, registered in book-entry form (DRS) on the Canadian share register.
How can former CDI holders of Lion One Metals (LOMLF) trade their shares after delisting?
Former CDI holders will need to make arrangements with a broker in Canada or an Australian broker with Canadian connections to facilitate electronic deposit of shares into CDS for trading on TSX-V.
