Lions Bay Capital Inc. Amends Riverfort Debt Facility and Arranges Additional Debt Financing

Vancouver, British Columbia–(Newsfile Corp. – June 30, 2021) – Lions Bay Capital Inc. (TSXV: LBI) (“Lions Bay” or the “Company“) announces that the Company has amended the secured loan facility (“Loan Facility”) with Riverfort Global Capital Ltd. on behalf of Riverfort Global Opportunities PCC Ltd. (the “Lender”). The Loan Facility has amended the previously announced secured facility (see news release on March 15, 2018) and amended on July 4, 2019 to increase the Loan Facility to USD $2.0 million. Concurrent with the amendment the Company has arranged for the advancement of USD $250,000 for a total of USD $750,000 advanced on the Loan Facility.

The proceeds of this advance will be used by the Company to fulfill the initial tranche of the Salamander Mining International Ltd. loan and option agreement (see news release on June 17, 2021).

The additional advance has an 18-month term, with 70% of the advance payable in 12 months with 5% of the advance payable monthly in each of the last 6 months. The additional advance bears interest at 12% per annum and is subject to an implementation fee of 7%. The advance is secured by a guarantee from the Company and its wholly owned subsidiary, Pan Andean Capital Pty Ltd. (“Pan Andean”) and a pledge by Pan Andean of certain of the investments held by Pan Andean.

Subject to approval of the TSX-V, the Company will issue 1,438,686 warrants exercisable at $0.0095 for a period of 18 months to the Lender as a condition subsequent to receipt of funds, failing which the advance will be returned to the Lender.

About Lions Bay Capital Inc.

Lions Bay Capital Inc. is a TSX-V listed Investment Issuer that is focused on high return investment opportunities, principally in the mining, clean energy and clean technology sectors, where it provides public and private companies with strategic and financial support.

On behalf of the Board of Lions Bay.

John Byrne
Executive Chairman
Tel: +61 3 9236 2800
Email: jbyrne@lionsbaycapital.com

For more information, please visit the corporate website at www.lionsbaycapital.com or contact the above.

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.

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Disclaimer & Forward-Looking Statements: This news release contains forward-looking statements. Forward-looking statements are statements that relate to future events or future financial performance. In some cases, you can identify forward-looking statements by the use of terminology such as “may”, “should”, “intend”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “project”, “predict”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements speak only as of the date of this news release. This news release may also contain inferences to future oriented financial information (“FOFI”) within the meaning of applicable securities laws. The information in this news release has been prepared by our management to provide readers with an outlook for our future activities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89202