Lion Energy Limited has entered into a binding transaction coordination agreement and convertible loan agreement ('Transaction Agreements') with KRX Energy Pte Ltd (together with its affiliates, as appropriate, 'KRX') and Risco Energy Investments Pte Ltd (together with its affiliates, as appropriate, 'Risco'), pursuant to which the Company:

a) has secured a $1.5 million convertible loan facility in favour of the Company from Risco (or its nominees) ('Convertible Loan'); b) will raise $2,500,000 by the placement of 100,000,000 fully paid ordinary shares ('Shares') in the capital of the Company to Risco (or its nominees) ('Proposed Risco Placement'); c) will seek shareholder approval to issue up to 80,000,000 new shares to professional and sophisticated investors ('Proposed Investor Placement'); and d) will acquire all of Risco's rights to a 35% interest in an area of mutual interest agreement ('AMI Agreement') which includes various unconventional oil and gas joint study applications onshore Indonesia ('Risco AMI Interest') in consideration for the issue of 39,900,108 Shares ('Proposed Asset Acquisition'), (the 'Proposed Transactions').

Tags: Lion Energy Corp.