TIDMLION

RNS Number : 8032Z

Lionsgold Limited

19 December 2017

Lionsgold Limited

("Lionsgold", "LION" or the "Company")

Issue of Equity and Director/PDMR Shareholdings

Lionsgold (LON: LION), the AIM quoted company focused on the exploration, production and retail application of physical gold, including the development of the Goldbloc digital currency, announces that it has conditionally issued 6,500,000 new ordinary shares of nil par value each ("Ordinary Shares") (the "Subscription Shares") and 6,500,000 warrants to subscribe for new Ordinary Shares (the "Subscription Warrants") to certain directors and PDMRs.

On 30 November 2017 the Company announced details of a placing to raise GBP550,000 through the issue of 68,750,000 new Ordinary Shares at a price of 0.8p per share, with each share carrying a warrant to subscribe for an additional share at a price of 1.2p prior to 31 December 2018 (the "Placing"). On 1 December 2017 LION announced that a further GBP200,000 had been conditionally raised on the same terms as the Placing.

The announcement of 30 November 2017 stated: "Lionsgold directors and persons discharging managerial responsibilities ("PDMRs") were unable to participate in the Placing because the Company is currently in a close period ahead of the publication of its results for the year ended 30 June 2017. The Company intends to allow its directors and PDMRs the opportunity to subscribe for further Ordinary Shares and warrants on the same terms as the Placing once the close period has ended."

Prior to the Placing, on 27 November 2017, the Company notified its Nominated Adviser in writing that it had indications from certain directors and PDMRs including the CEO, that they wished to participate in a subscription for the total amount of GBP52,000. The Company has therefore conditionally issued the Subscription Shares and Subscription Warrants on that basis as set out below:

 
                                       Subscription          No. of          No. of 
                                                GBP    Subscription    Subscription 
                                                             Shares        Warrants 
                   Non-Executive 
 David Price        Chairman               GBP4,000         500,000         500,000 
 Cameron           Chief Executive 
  Parry             Officer               GBP40,000       5,000,000       5,000,000 
                   Chief Financial 
 Adam Ronaldson     Officer                GBP4,000         500,000         500,000 
                   CEO of TRAC 
 Ralph Hazel        Technology Ltd         GBP4,000         500,000         500,000 
                                          GBP52,000       6,500,000       6,500,000

Completion of the issue of the Subscription Shares and Subscription Warrants is conditional on the passing of the necessary resolutions at the AGM on 28 December 2017. The Subscription Shares will be issued at a price of 0.8p per share. Each Subscription Warrants entitles the holder to subscribe for a new Ordinary Share at an exercise price of 1.2 pence per share with an exercise period of up to 31 December 2018. If the Lionsgold share price exceeds a 5 day volume weighted average price exceeding 3.6p during the warrant term, the Company has the right to serve notice on warrant holders to exercise warrants. Should the Company serve notice, any warrants unexercised within the 7 day time period allowed would be cancelled.

Subject to the passing of the necessary resolutions at the AGM, the Subscription Shares are expected to be admitted to trading on AIM on or around 29 December 2017.

Enquiries:

 
Lionsgold Limited                               Tel: +44 (0)203778 0578 
 Cameron Parry (Chief Executive Officer) 
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 
  Edward Lee

About LIONSGOLD Limited (LON: LION)

Lionsgold is a London Stock Exchange AIM market quoted, gold-focused company involved in the exploration, production and retail application of physical gold, with gold assets in India and Finland and a majority owned financial technology company developing the digital gold currency, Goldbloc.

Lionsgold's three core focuses are:

-- Strategic partnership with leading India gold exploration and mine development company, Geomysore, in which Lionsgold holds 21.15%;

-- Majority ownership of a financial technology platform providing online accounts for people to hold and utilise physical gold (www.goldbloc.com / www.indexgold.com / www.therealasset.co.uk); and

   --     Gold exploration and production in Central Eastern Finland.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 19, 2017 10:51 ET (15:51 GMT)

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