Lydian International Ltd.
TSX : LYD

Lydian International Ltd.

February 26, 2016 13:29 ET

Lydian Files Amended and Restated Preliminary Prospectus for Subscription Receipt Offering Adding 3/4 of A Warrant

TORONTO, ONTARIO--(Marketwired - Feb. 26, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Lydian International Limited (TSX:LYD) ("Lydian" or "the Company") is pleased to announce that the Company has filed an amended and restated preliminary short form prospectus with the securities regulatory authorities in each of the provinces and territories of Canada, other than Québec, which amends and restates the second amended and restated preliminary short form prospectus dated December 14, 2015 relating to Lydian's marketed public offering of subscription receipts.

The amendments include an amendment to the terms of the subscription receipts such that, upon satisfaction or waiver of the escrow release conditions for the subscription receipts, purchasers of subscription receipts will be entitled to receive, without payment of additional consideration or further action, one Lydian ordinary share and three-quarters of one ordinary share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one Lydian ordinary share at a price to be determined.

Lydian has applied to list the subscription receipts, as well as the ordinary shares and Warrants issuable pursuant to the terms of the subscription receipts and the ordinary shares issuable upon the exercise of the Warrants, on the TSX. Listing is subject to Lydian fulfilling all of the listing requirements of the TSX.

An amended and restated preliminary short form prospectus containing important information relating to the securities being offered under the public offering has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The amended and restated preliminary short form prospectus is still subject to completion or amendment. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final short form prospectus has been issued.

No securities regulatory authority has either approved or disapproved the contents of this press release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Lydian's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Lydian International Limited

Lydian is an emerging gold developer, focused on its 100%-owned Amulsar Gold Project, located in south-central Armenia. The Company's current mine development and construction plan for Amulsar is aimed at achieving average production greater than 200,000 ounces of gold per year and establishing the Company as a high cash-flow producer. The Company is committed to best practices in all aspects of its operations including production, sustainability, and good corporate citizenry. For more information and to directly contact us, please visit www.lydianinternational.co.uk.

Caution regarding forward-looking information

Certain information contained in this news release is "forward looking". All statements in this news release, other than statements of historical fact, that address events, results, outcomes or developments that the Company expects to occur are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "intends", "anticipates" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", or "occur" or the negative connotation of such terms. Forward-looking statements in this news release include, among others, statements with respect to the completion of the Offering.

All forward-looking statements in this news release are based on the opinions and estimates made as of the date such statements and are made and are subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict. The forward-looking statements in this news release are subject to the following assumptions: the receipt of all required approvals necessary for the completion of the Offering; and successful marketing of the Offering.

Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, without limitation: the actual results of marketing activities; changes in gold and silver prices; adverse general economic, market or business conditions; regulatory changes; as well as "Risk Factors" included in the disclosure documents filed on and available at www.sedar.com. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. All of the forward-looking statements contained in this news release are qualified by these cautionary statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

Contact Information

  • Lydian International Limited
    Howard Stevenson
    President and CEO
    +1 720-307-5080 (d) or +1 775-771-0739 (m)

    Lydian International Limited
    Doug Tobler
    CFO
    +1 720-307-5087 (d) or +1 303-905-4442 (m)
    www.lydianinternational.co.uk