Lifezone Metals Limited (NYSE: LZM) has officially announced the closing of its previously disclosed underwritten registered direct offering, as referenced in its November 10, 2025 news release. The offering successfully raised approximately $15 million in gross proceeds, prior to the deduction of underwriting discounts, commissions, and other related offering expenses. The company stated that the net proceeds will be directed toward advancing exploration and project staffing activities for its flagship Kabanga Nickel Project, as well as for other general corporate purposes that support Lifezone’s broader strategic and operational goals.
BTIG served as the sole book-running manager for the transaction, while Red Cloud Securities acted as co-manager, ensuring the efficient completion of the offering. The financing round also saw participation from existing investors, including Cinctive Capital Management LP, reflecting continued confidence in Lifezone’s growth strategy and long-term potential within the sustainable metals sector.
The securities involved in the offering were issued under Lifezone’s registration statement on Form F-3 (File No. 333-281189), which was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on August 16, 2024, as part of a “shelf” registration process. According to the company, these securities can only be offered through a formal prospectus, and a prospectus supplement along with the accompanying base prospectus describing the offering has been filed with the SEC. Interested parties can access electronic copies of these documents via the SEC’s website at www.sec.gov or obtain them directly from BTIG, LLC, located at 65 East 55th Street, New York, NY 10022, by emailing ProspectusDelivery@btig.com.
Lifezone emphasized that this press release does not represent an offer to sell or a solicitation to buy the securities described herein, nor shall any sale of these securities occur in any jurisdiction where such an offer, solicitation, or sale would be unlawful before registration or qualification under the applicable securities laws of that jurisdiction.
About Lifezone Metals
Lifezone Metals (NYSE: LZM) is committed to delivering cleaner and more responsible metals production and recycling. Through the application of our Hydromet Technology, we offer the potential for lower energy consumption, lower emissions and lower cost metals production compared to traditional smelting.
Our Kabanga Nickel Project in Tanzania is believed to be one of the world’s largest and highest-grade development-ready nickel sulfide deposits. By pairing it with our Hydromet Technology, we are working to unlock a new source of nickel, copper and cobalt for the global battery metals markets and to empower Tanzania to achieve in-country beneficiation.
Through our US-based recycling partnership, we are working towards applying our Hydromet Technology to the recovery of platinum, palladium and rhodium from responsibly sourced spent automotive catalytic converters. Our process is expected to be cleaner and more efficient than conventional smelting and refining methods, supporting a circular economy for precious metals.
