("Lionsgold" or the "Company")
Suspension of Trading
Lionsgold (LON: LION) announces that the Company"s ordinary shares will be suspended from trading with effect from 7.30 a.m. today.
The suspension has been applied under Rule 14 of the AIM Rules for Companies ("Rule 14") on the basis that it has been determined that the Company has undertaken a fundamental change of business through the acquisition of TRAC Technology Limited (now renamed Goldbloc Limited).
Concurrently with the release of Lionsgold"s digital gold currency Goldbloc, on schedule as planned for this quarter, and the continuing development of its gold assets and opportunities in India and other jurisdictions, Lionsgold shall work with its advisers on the preparation of an AIM admission document and the process required for readmission to trading of its shares.
Lionsgold"s ordinary shares will remain suspended until the Company fully complies with Rule 14. This process is expected to take three to four months to complete.
Further updates will be provided as appropriate.
Cameron Parry (Chief Executive Officer)
Tel: +44 (0)20 3778 0578
WH Ireland Limited (Nominated Adviser)
Tim Feather/Chris Viggor
Tel: +44 (0)113 394 6600
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 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%;
· Developing the digital gold curreny Goldbloc under its wholly owned financial technology division and 12.5% holding in Railsbank Technology Ltd, to enable customers to utilise direct ownership of physical gold via the global banking system (www.goldbloc.com); and
· Gold exploration and production in Finland via 30% ownership of Finnish joint venture.