("Lionsgold", "LION" or the "Company")
Tally - Gold Currency and 100%-Reserve Banking Platform
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 provide the following update in relation to the rebrand and repositioning of the physical gold currency developed within the Company.
Formerly known as "Goldbloc", over the course of this year the vision and potential application have evolved as a physical gold currency and alternative banking platform that operates complementary to fiat currency denominated banking accounts. In reviewing the former name and brand positioning in the context of the expanded scope of the platform and B2B2C business model, and following much deliberation and research over many months around multiple names and visual identities with a leading London brand stategy agency, the currency and platform is now "Tally".
· Tally gives people the choice with their money to be able to access a 100%-reserve banking platform using a hard currency.
· Each Tally is a milligram of gold directly owned by the customer and utilised in their individual banking account and debit card.
· Important to note, Tally is not a fiat (government-issued) currency and Tally is not a cryptocurrency. Tally is a tangible asset utilised seemlessly via a customer"s banking account and debit card that operates complementary to fiat currencies using the mainstream banking system.
· The new holding page for the product is: www.TallyMoney.com where people can register to receive priority access to open a Tally account upon the platform"s public release.
· Lionsgold has moved to secure trademark rights for use of the words "Tally" and "TallyMoney" in the relevant categories of use and in line with the rebrand.
· Lionsgold"s wholly owned UK subsidiary company "Goldbloc Ltd", has today changed its name to "TallyMoney Ltd" (and the company name as Electronic Money Directive Agent on the Financial Conduct Authority register will be updated accordingly).
Cameron Parry, Chief Executive Officer, commented: "The team are delighted to release the new name and brand of the gold currency and full-reserve banking platform - "Tally". This new positioning reflects the expanded scope and B2B2C product offering and business model.
"Congruent with the real physical gold currency we"re delivering, "Tally" is a real word that is both a noun and a verb that refers to a unit, a ledger, a measurement of account and the action to count up, to correspond and to agree. It is still used in the modern vernacular and can be used in the singular or plural form, as a unit of one, or many. The board believes "Tally" to be a fitting and appealing brandname to serve as both the name of the unit of currency and the name of the platform.
"Money is omnipresent in our daily lives. We encourage all shareholders and followers of Lionsgold to register at www.TallyMoney.com to be notified when the platform goes live to the public and ensure they are some of the first to have access to depositing, spending and transacting in "Tally".
"Finally, as today is the last business day before automatic cancellation of LION shares from trading on the London Stock Exchange AIM market, we wish to inform shareholders that the Company"s Annual General Meeting is planned to be held around the 19th of December in Guernsey with a pre-AGM shareholders meeting to be held in London during the week prior to the AGM. The notice of AGM shall go out within the next two weeks and that and other communications will continue to be released periodically via "RNS Reach" during the time the Company is off the market.
"The board and staff would like to thank shareholders for their patience and support as Lionsgold transitions through this pivotal phase of its corporate and commercial development. And finally, we wish to reassure all shareholders of our complete commitment to see the Company make application to recommencing trading of its shares on AIM in Q1 2019."
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.