LionGold and subscribers of proposed placement terminate agreement

Due to "unforeseen" share price volatility.

In a disclosure to the Singapore Exchange, LionGold Corp Ltd (LionGold) is announcing the termination of the proposed placement of up to 180 million new shares at S$1.10907 each and up to 135 million new warrants at S$0.02 each, as announced on 14 August 2013.

The announcement reasoned that "recent unforeseen volatility in the Group’s share value" led to the mutual termination by LionGold and the subscribers of the placement, which include Platinum Partners PPLO fund, Carnegie Hall Group, and Spring Road Advisors.

Managing General Partner and President of Platinum Partners PPLO fund, Mr.Uri Landesman reassured though that “In spite of the volatility in LionGold’s share price, we still believe in the Group’s long-term business model. We look forward to future opportunities to work with LionGold as the Group’s
share price stabilises over time.”