("Lionsgold", "LION" or the "Company")
Lionsgold, the gold-focused exploration company with assets in India and Finland, and a fintech subsidiary that provides online accounts backed by physical gold, is pleased to announce the appointment of David William Price as Non-Executive Chairman with immediate effect. Concurrently with David joining the board, Luke Cairns, Executive Director, has stepped down from the Board to pursue other business interests.
Mr. Price, aged 52, is an experienced public listed company director and technical operator in the global mining industry. David is a qualified geologist with over 30 years' experience and has led companies from grass roots exploration through to mine construction financing. He has relevant porphyry, epithermal, vein-hosted and intrusion related experience working in Australia, Papua New Guinea, China, Fiji and the Philippines. Past appointments include CEO of ASX-listed companies Convergent Minerals Limited and Golden Tiger Mining NL, and Managing Director of Millennium Mining (Fiji) Limited. He has also recently been appointed Chief Executive Officer of AIM quoted Papua Mining plc. He is a Fellow of the Australasian Institute of Mining and Metallurgy.
Cameron Parry, CEO of Lionsgold, commented: "I am delighted to announce that David Price, with his wealth of mining expertise, has joined Lionsgold's board as Non-Executive Chairman. Together with the recent appointment of Global Strategy Consultant and former Rio Tinto Energy & Minerals Chief Executive, Alan Davies, and our incumbent Non-Executive Director, Dr M. Hanuma Prasad, David's appointment enhances Lionsgold's breadth of operational experience in readiness for potential opportunities anticipated to arise in 2018 across LION's three divisions: India Gold, Fintech Gold and Finland Gold.
"On behalf of the Company I would also like to thank Luke Cairns for his efforts since joining the board with me 16 months ago during what has been a transformative period for the structure and direction of the Company and we wish him well with his other endeavours."
Cameron Parry (Chief Executive Officer)
Tel: +44 (0)203778 0578
WH Ireland Limited (Nominated Adviser)
Tim Feather/Ed Allsopp
Tel: +44 (0)113 394 6600
Smaller Company Capital Limited (Joint Broker)
Rupert Williams / Jeremy Woodgate
Tel: +44 (0)20 3651 2911
Beaufort Securities Limited (Joint Broker)
Tel: +44 (0)20 7382 8300
Tavistock (Financial PR)
Tel: +44 (0) 20 7920 3150
The following details in relation to the appointment of Mr. Price are disclosed in accordance with Schedule 2(g) of the AIM Rules:
Past directorships held within the last five years
BGM Investments Pty. Limited
European Mining Investments Pty. Limited
Papua Mining plc
AFL Resources Pty. Limited
Convergent Minerals Limited
Hampshire International P/L
NQ Metals Pty Limited
Mr. Price was Chief Executive Officer of ASX-listed Convergent Minerals Limited ("Convergent"), a mineral exploration company, when it entered voluntary administration on 30 October 2015 due to the company being unable to secure project construction capital of AUD$43m during a difficult financing cycle and being constrained by a secured creditor. Mr. Price was also a director of both of Convergent's wholly owned subsidiary companies, AFL Resources Pty Limited and NQ Metals Pty Limited, which entered voluntary administration on 22 December 2015. A Deed of Company Arrangement was subsequently entered into and Convergent and its two subsidiaries came out of administration on 14 January 2016.
There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules.
For further information, please visit www.lionsgold.com or contact:
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.
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 gold backed online accounts for people to hold and utilise physical gold; and
· Gold exploration and production in Central Eastern Finland.