Metals One Enters Deal to Fully Take Over Lions Bay Resources Proprietary

04:01 AM EDT, 10/22/2026 (MT Newswires) -- Metals One (MET1.L) signed a binding term sheet for a transaction that will boost its stake in Lions Bay Resources Proprietary to 100%, according to a Thursday release. The deal will see the London-listed critical and precious metals project developer exercise an option to boost its stake to 49.99%, while also acquiring Lions Bay Capital and Salamander Consulting's 50.01% stake in Lions Bay Resources. The transaction is still subject to a sale and purchase agreement, shareholder and regulatory approvals, due diligence completion, as well as other requirements.