Liongold

Liongold: Announced private placement of 180m new shares at issue price of $1.10907 each, 10% discount to the last close of $1.235. In addition, 135m warrants will also be issued at $0.02 each, convertible into ordinary shares on the basis of 1-for-1 within 36 months at a conversion price of $1.3555. The majority of net proceeds upon full take-up of $202m has been earmarked for acquisitions, with the balance used to progress existing gold mining projects and for general working capital.