Lion Group surges on LoI for digital mining project in Tajikistan
18/11/2021 13:21
** Investment holding co Lion Group Holding LGHL.O jumps
11% premarket to $2.33 - set for its highest in two weeks
** LGHL signs letter of intent (LoI) with New Full Rich to
invest in a digital mining project in Tajikistan
** New Full Rich specializes in developing and operating
overseas digital mines
** LGHL and New Full Rich to construct and operate an
encrypted digital currency mine project in the Central Asian
nation through Ganj Technology, a firm owned by New Full Rich
urn:newsml:reuters.com:*:nPnc21bZfa
** First phase of construction to finish in Q1 2022; annual
profit of the project is expected to be at least $25 mln
** LGHL to issue 5 mln shares to New Full Rich at $3/share
in exchange for 20% of Ganj Tech's enlarged shares; LGHL expects
to achieve profit sharing of $5 mln in 2022
** On Nov. 5, Lion announced the launch of a Metaverse
project "Lion World" urn:newsml:reuters.com:*:nFWN2RW1WC
** Shares up 9% YTD as of last close
(Reporting by Anisha Sircar in Bengaluru)
((Anisha.Sircar@thomsonreuters.com;))