Lydian International Limited announced that its Board has approved the terms of a proposed non-brokered private placement of ordinary shares of the Company to the European Bank for Reconstruction and Development (EBRD).

Under the terms of the proposed Private Placement, the EBRD will subscribe for an aggregate of 33,500,000 ordinary shares of the Company at a price of C$0.34 per share, for aggregate gross proceeds of C$11,390,000.

"We are pleased to have the ERBD's continuing support as we begin development of the Amulsar Gold Project. This investment provides further recognition of Lydian's commitment to good international industry practices and standards as we make the transition from developer to producer," said Howard Stevenson, President and CEO of Lydian International.

The EBRD has been an important strategic investor for Lydian since 2009. Including its initial investment, the EBRD has supported Lydian through four previous private placements.