TIDMLION
RNS Number : 4811H
Lionsgold Limited
08 June 2017
8 June 2017
Lionsgold Limited
Strategic Placing
and Director/PDMR Shareholding
Lionsgold Limited ("Lionsgold", "LION" or the "Company"), the
gold-focused exploration company with assets in India and Finland
and a significant shareholder of a physical gold holding and
trading exchange, is pleased to announce the Company has raised
GBP550,000 (before expenses) through the placing of 50,000,000 new
ordinary shares of no par value ("Ordinary Shares") (the "Placing
Shares") at a price of 1.1 pence per share (the "Placing").
Highlights:
-- Placing of 50,000,000 Placing Shares at a price of 1.1 pence
per share (the "Placing Price") (equal to the mid-market price of
the Ordinary Shares as at close of trading on 7 June 2017, the last
trading day prior to this announcement) raising gross proceeds of
GBP550,000;
-- Issue of warrants to subscribe for 25,000,000 new Ordinary
Shares at an exercise price of 1.5 pence per warrant (a 36 per
cent. premium to the Placing Price) on the basis of 1 warrant per 2
Placing Shares, with an exercise period of approximately 6 months
ending 15 December 2017 (the "Warrants");
-- Lionsgold CEO subscribing for 3,000,000 Placing Shares
(representing 6 per cent. of the Placing) through Yarramen Corp Ltd
which is owned by his family trust;
-- The Placing Shares will be issued under the existing
authorities granted to the directors of the Company and completion
of the Placing is conditional only on admission of the Placing
Shares to trading on AIM, which is expected to take place on or
around 22 June 2017; and
-- Placing proceeds to be utilised to advance Lionsgold's
strategic plans in relation to two core areas of focus - India and
Fintech (financial technology).
Cameron Parry, Chief Executive Officer of Lionsgold, commented:
"We are delighted to report that Lionsgold has secured this
strategic financing at no discount to the prevailing mid-market
share price, to fund and progress identified objectives as part of
LION's corporate strategy. We are grateful to both of our corporate
brokers for their support of Lionsgold, currently a micro-cap
AIM-quoted company, raising equity funds at no discount to the
market price.
"The 1 for 2 attaching warrants are being issued at a 36 per
cent. premium to the Placing Price, with a relatively short term of
approximately six months in which to exercise, reflecting the
near-term milestones anticipated.
"Near-term commercial objectives include: the completion of the
feasibility study at Jonnagiri and potential for a Mine
Developer/Operator contract to be agreed; undertaking a bulk
sampling campaign in Finland to produce gold in H2 this year and
see our Finnish JV self-funded; and implementation of the digital
marketing and product development strategy of IndexGold."
Placing Summary
Lionsgold has undertaken the Placing to raise GBP550,000 (before
expenses) through the issue of 50,000,000 Placing Shares at a price
of 1.1 pence per share.
Each placee will receive one Warrant for every two Placing
Shares, to subscribe for one additional new Ordinary Share at a
price of 1.5 pence each, exercisable at any time prior up to and
including 15 December 2017 (a total of 25,000,000 Warrants).
Cameron Parry, Chief Executive Officer, has, through Yarramen
Corp Ltd ("Yarramen"), a company owned by his family trust,
subscribed for 3,000,000 Placing Shares at the Placing Price. The
information set out at the end of this announcement in accordance
with the requirements of the EU Market Abuse Regulation, provides
further detail. Following the Placing, Mr. Parry will be interested
in aggregate in 10,000,000 Ordinary Shares, representing 3.9 per
cent. of the enlarged issued share capital. Through his
participation in the Placing, Mr. Parry, through Yarramen, will
also receive 1,500,000 million Warrants.
Application will be made to the London Stock Exchange for the
Placing Shares to be admitted to trading on AIM and trading is
expected to commence at 8.00 a.m. on or around 22 June 2017.
In accordance with the provision of the Disclosure Guidance and
Transparency Rules of the FCA ("DTRs"), the issued ordinary share
capital of Lionsgold following the Fundraising shall be 254,211,719
Ordinary Shares with voting rights attached (one vote per share).
There are no shares held in treasury. This total voting rights
figure may be used by shareholders as the denominator for the
calculation by which they will determine whether they are required
to notify their interest in, or a change to their interest in,
Lionsgold under the DTRs.
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
For further information, please contact:
Lionsgold Limited Tel: +44 (0) 20 7397 2880
Cameron Parry (Chief Executive Officer)
Luke Cairns (Executive Director)
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 113 394 6600
Tim Feather
Ed Allsopp
Smaller Company Capital Limited (Joint Broker) Tel: +44 (0) 20 3651 2911
Rupert Williams
Jeremy Woodgate
Beaufort Securities Limited (Joint Broker) Tel: +44 (0) 20 7382 8300
Elliot Hance
Tavistock (Financial PR) Tel: +44 (0) 20 7920 3150
Emily Fenton
Edward Lee
About LIONSGOLD
Lionsgold is a London Stock Exchange AIM market quoted,
gold-focused exploration company, with gold assets in India and
Finland and a significant holding in a physical gold and silver
online vaulting and trading platform.
Lionsgold's three core focuses are:
-- Strategic partnership with leading India gold exploration and
mine development company, Geomysore, in which Lionsgold owns
20.5%;
-- Physical gold holding and trading fintech platform for the
UK, India and other jurisdictions; and
-- Gold exploration and production in Finland.
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------
a) Name Cameron Parry
--- ------------------------------------------------------------- --------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------
a) Position/status CEO
--- ------------------------------------------------------------- --------------------------------
b) Initial notification/ Amendment Initial Notification
--- ------------------------------------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------
a) Name Lionsgold Limited
--- ------------------------------------------------------------- --------------------------------
b) LEI N/A
--- ------------------------------------------------------------- --------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--- -----------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary shares of no par value
Identification code
GB00B3M9KL68
--- ------------------------------------------------------------- --------------------------------
b) Nature of the transaction Purchase of Ordinary Shares
--- ------------------------------------------------------------- --------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------- ----------
1.1p each 3,000,000
----------- ----------
--- ------------------------------------------------------------- --------------------------------
d) Aggregated information
* Aggregated volume 3,000,000
GBP33,000
* Price
--- ------------------------------------------------------------- --------------------------------
e) Date of the transaction 7 June 2017
--- ------------------------------------------------------------- --------------------------------
f) Place of the transaction London Stock Exchange, AIM
--- ------------------------------------------------------------- --------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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