LION Lionsgold

TIDMLION

RNS Number : 0534Y

Lionsgold Limited

28 February 2017

28 February 2017

Lionsgold Limited

("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 EUR350,000 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 EUR350,000 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 EUR350,000 previously agreed to see Lionsgold's shareholding increase through 28% of Kalevala, our Finnish operating company."

For further information, please contact:

 
 Lionsgold Limited                 Tel: +44 (0) 20 7397 2880 
  Cameron Parry (Chief Executive 
  Officer) 
  Luke Cairns (Executive 
  Director) 
 WH Ireland Limited (Nominated     Tel: +44 (0) 113 394 6600 
  Adviser) 
  Tim Feather 
  Ed Allsopp 
 Smaller Company Capital           Tel: +44 (0) 20 3651 2911 
  Limited (Joint Broker) 
  Rupert Williams 
  Jeremy Woodgate 
                                   Tel: +44 (0) 20 7920 3150 
   Tavistock (Financial PR) 
   Emily Fenton 
   Edward Lee 
 

About LIONSGOLD

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. 

This information is provided by RNS

The company news service from the London Stock Exchange

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