28 February 2017
("Lionsgold" or "the Company")
Broker Change and Finland Gold Update
Lionsgold, the AIM-quoted India-focused gold exploration company with gold assets in Finland and a physical gold online trading platform, advises its broker has changed from Vicarage Capital Limited ("Vicarage") to Smaller Company Capital Limited ("SCC") following the approval of the latter as a standalone member of the London Stock Exchange. SCC has previously been providing broking services to the Company under Vicarage's regulatory umbrella.
Finland Gold Update
Lionsgold has commenced payments for the €350,000 committed and budgeted for under its Finland Gold joint venture. These payments for equity are being made to the Finnish JV operating company, Kalevala Gold Oy ("Kalevala") as and when required by Kalevala. The funds are being used for preparatory work in the lead up to bulk sampling activities planned for Q3 this year. As previously announced, once €350,000 in total has been paid to Kalevala, Lionsgold shall own 28.3% of Kalevala.
Cameron Parry, Chief Executive Officer, commented: "This is an exciting time as we look to develop the Company rapidly under the Lionsgold brand. I am pleased to report that our Finland Gold JV is progressing well and Lionsgold has commenced paying the next €350,000 previously agreed to see Lionsgold's shareholding increase through 28% of Kalevala, our Finnish operating company."
For further information, please contact:
Cameron Parry (Chief Executive Officer)
Luke Cairns (Executive Director)
Tel: +44 (0) 20 7397 2880
WH Ireland Limited (Nominated Adviser)
Tel: +44 (0) 113 394 6600
Smaller Company Capital Limited (Joint Broker)
Tel: +44 (0) 20 3651 2911
Tavistock (Financial PR)
Tel: +44 (0) 20 7920 3150
Lionsgold is an AIM-quoted India-focused gold exploration company, with complementary gold assets in Finland and an online exchange targeting the India market for retail users to directly own and trade physical gold.
Lionsgold's three core focuses:
· 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 Indian market; and
· Gold exploration and production in Finland.