Lionsgold Limited Gold ownership platform goes live (1974F)
16 Maggio 2017 - 8:00AM
UK Regulatory
TIDMLION
RNS Number : 1974F
Lionsgold Limited
16 May 2017
16 May 2017
Lionsgold Limited
Gold Ownership Platform Goes Live
Lionsgold Limited ("Lionsgold", "LION" or the "Company"), the
gold-focused exploration company with assets in India and Finland
and a significant shareholder of a physical gold ownership online
exchange, is pleased to announce the release of LION's financial
technology ("fintech") gold application: "IndexGold". The website
and trading platform is now live at www.indexgold.com which enables
the public to directly own, store and trade physical gold and
silver.
Highlights:
-- IndexGold is the result of a collaboration between Lionsgold
and TRAC Technology Ltd ("TRAC") which was initially conducted
under a joint venture ("JV") as announced on 1 November 2016;
-- IndexGold benefits from using established technology through
a web-based application which enables individuals to directly own
and trade physical gold and silver;
-- IndexGold has been developed on budget under the terms of the
JV. Lionsgold will own 37.7% of TRAC following capitalisation of JV
expenditure to date and the investment of the remaining funds
budgeted under the JV as announced on 3 May 2017;
-- All intellectual property relating to IndexGold and the
legacy platform developed and released under The Real Asset
Company, is owned by TRAC;
-- IndexGold combines TRAC's fintech and sector experience with
Lionsgold's business development and corporate growth
capabilities;
-- IndexGold will benefit from TRAC's existing customer base and legacy brand awareness; and
-- Planning is underway for further IndexGold products to be
released during H2 2017 to meet consumer demand, enabling
individuals to conveniently hold personal assets in an online
account backed by tangible precious metals.
Cameron Parry, CEO of Lionsgold, commented: "We are extremely
pleased to release IndexGold into the public domain. IndexGold is
the result of a successful collaboration between Lionsgold and TRAC
that commenced under our India-focused JV, initiated in November
2016. Since that time the potential commercial opportunity has
evolved and the parties agreed to progress with a single entity
focus, to develop products together and grow consumer numbers,
across multiple jurisdictions.
"IndexGold is an online trading platform that enables
individuals to have direct ownership of physical gold and silver,
with the same convenience as using their other online accounts. The
board of Lionsgold believes there is a growing awareness in the
mainstream about the importance of holding part of one's personal
cash and cash-like assets in physical gold whilst having the
freedom to easily convert back and forth to cash and gold as
desired.
"IndexGold sees LION with a revenue generating fintech gold
division, utilising proven technology and established
infrastructure to meet what the board believes is a growing market
need. We look forward to releasing further news regarding IndexGold
initiatives over the coming weeks and months."
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 Adviser) Tel: +44 (0) 113 394 6600
Tim Feather
Ed Allsopp
Smaller Company Capital Limited (Joint Broker) Tel: +44 (0) 20 3651 2911
Rupert Williams
Jeremy Woodgate
Beaufort Securities Limited (Joint Broker) Tel: +44 (0) 20 7382 8300
Elliot Hance
Tavistock (Financial PR) Tel: +44 (0) 20 7920 3150
Emily Fenton
Edward Lee
About LIONSGOLD
Lionsgold is a London Stock Exchange AIM market quoted,
gold-focused exploration company, with gold assets in India and
Finland and a significant holding in a physical gold and silver
online vaulting and trading platform.
Lionsgold's three core focuses are:
-- 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
UK, India and other jurisdictions; and
-- Gold exploration and production in Finland.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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