LionGold

LionGold: proposes a Takeover Bid of Castlemaine Goldfields (CGT AU) via two separate agreements.
i) to subscribe for 33.9m new CGT shares (12.8% of existing shares out) at A$0.115/sh for consideration of A$3.9m
ii) to make an off-mkt takeover bid for all remaining shares of CGT at a bid price of A$0.1842/sh (~S$0.2386, based on A$1 = S$1.2953). This will be satisfied by the allotment and issue of 2 LionGold shares at issue price of S$1.0738 for 9 CGT shares.

Castlemaine Goldfields is a gold explorer and producer listed on the ASX. CGT possesses exploration titles across 5 goldfields in Central Victoria, Australia. Its cornerstone asset, Ballarat Goldfield, has seen >A$400m invmt made by previous owners. CGT commenced gold pdtn at Ballarat during 3Q11.