TIDMLION

RNS Number : 1256A

Lionsgold Limited

21 December 2017

Lionsgold Limited

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

Right of Company to Expedite Exercise of Placing Warrants

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 the milestone for the Company to expedite the expiry date of the warrants issued under the placing announced on 30 November and 1 December 2017 ("Placing Warrants") has occurred. As a result Lionsgold may trigger the early exercise of all Placing Warrants that would otherwise be due to expire on 31 December 2018.

Under the terms of the Placing Warrants, the expiry date is 31 December 2018, except in the event that LION's volume weighted average share price over 5 trading days ("5-day vwap") exceeds 3.6 pence per share. If exceeded, the Company, at its absolute discretion, may give notice to holders of Placing Warrants that they have one week to exercise their Placing Warrants, with two futher weeks to make payment, or forfeit their Placing Warrants.

From market open on 14 December 2017 to market close on 20 December 2017, 241,072,254 LION shares traded at an average price of 5.4492 pence per share. This enables the Company to expedite the exercise period on all Placing Warrants, including the warrants attaching to the Directors' and PDMR's subscriptions announced on 20 December 2017.

For the avoidance of doubt, Lionsgold is not at this stage triggering the early exercise of the Placing Warrants.

Lionsgold Chief Executive Officer, Cameron Parry, commented: "In recent days Lionsgold has received the proceeds of the first unconditional tranche of the placing, being GBP220,000, and an additional GBP811,785 through the exercise of warrants and a former employee exercising management options.

"Subject to the relevant resolutions being passed at the AGM on 28 December 2017, the second tranche of the placing monies will be received which, including GBP52,000 from management partipation, totals GBP582,000. At that point, Lionsgold will have received over GBP1.6 million during December. The Company will also be in a position to trigger the early exercise of Placing Warrants representing a potential GBP1.1 million in additional cash, but Lionsgold does not intend to trigger early exercise of the Placing Warrants at this time.

"The recent placing and voluntary exercise of warrants to date gives Lionsgold a robust cash position and the Company is now in a position to develop and execute strategies that the Board believe can significantly enhance the value of Lionsgold over the next two quarters."

Enquiries:

 
Lionsgold Limited                               Tel: +44 (0)20 3778 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 21, 2017 10:15 ET (15:15 GMT)

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