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Lionsgold in 'robust' financial position after share placement and warrant exercise

The company said its strengthened financial position will allow it to accelerate a number of initiatives, including its digital currency.
All resolutions at Lionsgold's AGM were duly passed

Lionsgold Limited (LON:LION) chief executive Cameron Parry said the gold explorer is in a “robust” financial position following a recent share placing, conversion of warrants and financing.

In statement following the annual general meeting, Parry said the group has received more than £1.6mln in new cash before expenses in December after financing and the conversion of warrants and options.

Warrants from the company's recent placing and from a July 2016 placing represent an additional £2.7mln, he said.

“Thus Lionsgold is now in a robust financial position with considerable cash resources for strategic growth.” 

"It is an exciting time for Lion and I look forward to reporting on a range of business developments in the near future."

Parry said the company’s strengthened financial position allow it to accelerate a number of initiatives within the business, including the development of Goldbloc, its proprietary digital currency.

All resolutions at the AGM were duly passed, including the placing of shares and exercise of warrants.

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