Lifezone Metals prices $25 million share offering at $4.40 per share

Lifezone Metals Limited (NYSE: LZM) announced it entered into a share purchase agreement with institutional investors for the sale of 5.7 million ordinary shares at $4.40 per share. The company expects gross proceeds of approximately $25 million, excluding placement agent fees and offering expenses.

The metals company stated it will use net proceeds for exploration activities in Burundi and Tanzania, its PGM Recycling Project, conducting Hydromet research and development at Simulus Laboratory, and general corporate and working capital purposes including financing costs.

The offering is expected to close on or about April 23, 2026, subject to customary closing conditions. Roth Capital Partners served as the sole placement agent for the transaction.

The shares were offered pursuant to a registration statement on Form F-3 that was declared effective by the Securities and Exchange Commission on August 16, 2024, using a shelf registration process. A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC.

Lifezone Metals operates the Kabanga Nickel Project in Tanzania and has a US-based recycling partnership focused on recovering platinum, palladium and rhodium from spent automotive catalytic converters using its Hydromet Technology.

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