North Vancouver, British Columbia--(Newsfile Corp. - May 1, 2026) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) ("Lion One" or the "Company") today announces that it has terminated its previously announced subscription agreement with Arete Capital Advisory Pty Ltd and that the Company will not proceed with a strategic partnership between Lion One and Arete Capital Advisors. At the time of termination, Lion One had not issued any securities pursuant to the Subscription Agreement or entered into the previously announced Master Service Agreement or Investor Rights Agreement.
In connection with the termination of the Subscription Agreement, the Company also announces that Campbell Olsen will no longer serve in the role as Chief Executive Officer ("CEO") of the Company effective immediately. The Company also announces that Mr. Tony Young, the Company's current Chief Financial Officer ("CFO"), has been appointed as Interim CEO, and Ms. Zamand Shokri, the Company's current Corporate Controller, has been appointed as Interim CFO, both also effective immediately.
Mr. Young has been the CFO of the Company for 8 years while Ms. Shokri has been the Corporate Controller for the Company for 6 years. Both Mr. Young and Ms. Shokri have deep knowledge of the Tuvatu operations and provide continuity for the Company during the transition to a new CEO. Quelle