Lions Bay Announces Closing of Second and Final Tranche of Non-Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - November 7, 2025) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company") is pleased to announce that it has closed the second tranche of the non-brokered private placement (the "Private Placement") previously announced on August 11, 2025 and August 28, 2025. The second tranche comprises a total of 3,975,000 units of the Company ("Units") at a price of $0.10 per Unit for aggregate gross proceeds of $397,500. Each Unit will consist of one common share (a "Common Share") and one-half common share purchase warrant, with each full warrant (a "Warrant") being exercisable to purchase one Common Share at a price of $0.20 expiring November 7, 2027. In aggregate the Company issued 10,850,000 Units for total proceeds of $1,085,000 inclusive of the first tranche closing.

Metals One Plc ("Metals One"), a strategic partner based in the UK acquired 7,500,000 total Units at $0.10 per Unit for total consideration of $750,000 in aggregate in both tranches of the financing. The acquisition of 7,500,000 Units resulted in holdings of approximately 19.10% of the outstanding Common Shares of the Company and 26.15% of the outstanding Common Shares of the Company on a partially diluted basis (assuming exercise of 3,750,000 Warrants). Prior to the Private Placement, Metals One did not own or control any securities of the Company. Following completion of the Private Placement, Metals One will beneficially own and control 7,500,000 Common Shares and 3,750,000 Warrants representing 19.10% of the outstanding Shares on a non-diluted basis and 26.15% of the outstanding Shares on a partially diluted basis assuming the exercise of such Warrants.

The Units were acquired by Metals One for investment purposes. Metals One has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of Metals One's early warning report will appear on Lions Bay's profile on SEDAR+.

The Company intends to use the net proceeds raised from the Private Placement to carry out the due diligence procedure on the cogeneration power plant, debt reduction and general working capital.

No commissions or finder fees were payable in connection with the Private Placement. All securities issued under the Private Placement will be subject to statutory hold periods expiring March 8, 2026. Closing of the Private Placement is subject to final approval of the TSX Venture Exchange.