("Lionsgold", "LION" or the "Company")
Lionsgold (LSE: LION), the gold company focused on the exploration, production and retail application of physical gold, including the development of physical gold as a currency, is pleased to announce the appointment of Michael Paul Joseph as Non-Executive Director with immediate effect.
Mr Joseph, aged 47, is a highly successful entrepreneur and Managing Director of Right Choice Insurance Brokers Limited ("RCIB") - a company he founded that commenced trading in 2008 and has grown year on year, now employing more than 300 people, and in its last full financial year ending 31 December 2017, had turnover of over £26m generating in excess of £9m in earnings before tax for the 12-month period. The inherent value of RCIB is underpinned by it's own purpose-built data technology system and the competitive advantage it delivers to the business, which has grown to over 250,000 customers currently. In June 2018, Lloyds Bank private equity division ("LDC") invested £28m at a valuation over £100m.
RCIB is regulated by the Financial Conduct Authority ("FCA" reference number 475620) and Mr Joseph is an FCA approved person (FCA reference number 01051) for relevant control functions.
Cameron Parry, Lionsgold Chief Executive Officer, commented: "It is my pleasure to announce the addition of Michael Joseph to the board of Lionsgold. He is a highly successful and esteemed entrepreneur with the proven knowledge and ability to rapidly grow a customer facing business in the financial services sector with a proprietary core technology.
"Michael is a key addition to the Liongold board as the Company enters the commercialisation phase of giving people the choice to use a 100% reserve banking platform and hard currency. Furthermore, this new director appointment ties in to the Company's stated objective of applying for admission to trading on AIM in Q1 2019."
The following details in relation to the appointment of Mr. Joseph are disclosed in accordance with Schedule 2(g) of the AIM Rules:
Past directorships held within the last five years
Right Choice Insurance Brokers Limited
Right Choice Holdings Limited
Right Choice Property Holdings Limited
Bike Devil Limited
Mr. Joseph owns 23,525,000 ordinary shares in the Company at present (4.17% of the Company's issued share capital) and 1,818,181 warrants exercisable at 2.2p by 27 January 2019.
There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules.
Cameron Parry (Chief Executive Officer)
Tel: +44 (0)20 8065 0215
WH Ireland Limited (Nominated Adviser)
James Joyce/Chris Viggor
Tel: +44 (0)207 220 1666
Smaller Company Capital Limited (Broker)
Rupert Williams / Jeremy Woodgate
Tel: +44 (0)20 3651 2911
About LIONSGOLD Limited (LSE: 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 wholly owned financial technology company developing physical gold as a currency.
Lionsgold's three core focuses are:
· Strategic partnership with leading India gold exploration and mine development company, Geomysore, in which Lionsgold holds 22%;
· Developing physical gold as a currency under its wholly owned financial technology subsidiary and 12.5% holding in banking platform developer Railsbank Technology Ltd, to enable customers to utilise their own physical gold with the convenience of everyday banking via the international banking system; and
· Gold exploration and production in Finland via 32% ownership of Finnish joint venture.