Lifezone Metals Prices $25 Million Registered Direct Offering

Lifezone Metals (NYSE: LZM) has priced a registered direct offering of 5,700,000 ordinary shares at $4.40 per share, raising approximately $25 million in gross proceeds before placement agent fees and offering-related expenses.

The offering was priced for fundamental institutional investors. Net proceeds are allocated to exploration, PGM recycling, Hydromet research and development, and general corporate purposes, with no specific dollar amounts or percentage allocations disclosed for each category.

Offering Terms & Structure

The offering comprises 5,700,000 ordinary shares priced at $4.40 per share, for expected gross proceeds of approximately $25 million before placement agent fees and offering-related expenses. The shares are being sold to fundamental institutional investors.

The offering is being made pursuant to a prospectus supplement and an accompanying prospectus filed with the US Securities and Exchange Commission under a shelf registration, which was declared effective in August 2024. Roth Capital Partners is acting as the sole placement agent.

Capital Deployment Plans

Net proceeds from the registered direct offering are directed to four areas: exploration activities in Burundi and Tanzania; the PGM Recycling Project; Hydromet research and development at Simulus Laboratory; and general corporate and working capital purposes, including financing costs. No allocation weighting or sequencing among the four categories has been stated.

Next Steps

Closing is targeted for on or about April 2026, subject to customary closing conditions. A prospectus supplement and accompanying prospectus are to be filed with the SEC in connection with the offering.