<SEC-DOCUMENT>0001062993-15-005785.txt : 20151104
<SEC-HEADER>0001062993-15-005785.hdr.sgml : 20151104
<ACCEPTANCE-DATETIME>20151104172815
ACCESSION NUMBER:		0001062993-15-005785
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20151104
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151104
DATE AS OF CHANGE:		20151104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIGHTBRIDGE Corp
		CENTRAL INDEX KEY:			0001084554
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
		IRS NUMBER:				911975651
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34487
		FILM NUMBER:		151198026

	BUSINESS ADDRESS:	
		STREET 1:		1600 TYSONS BOULEVARD
		STREET 2:		SUITE 550
		CITY:			MCLEAN,
		STATE:			VA
		ZIP:			22102
		BUSINESS PHONE:		703.918.4904

	MAIL ADDRESS:	
		STREET 1:		1600 TYSONS BOULEVARD
		STREET 2:		SUITE 550
		CITY:			MCLEAN,
		STATE:			VA
		ZIP:			22102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Thorium Power, Ltd
		DATE OF NAME CHANGE:	20061011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVASTAR RESOURCES LTD.
		DATE OF NAME CHANGE:	20051011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVASTAR RESOURCES LTD
		DATE OF NAME CHANGE:	20050829
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>

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<P align=center><B><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR></B>Washington, D.C.
20549</P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>CURRENT REPORT <br>
</B>Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934 </P>
<P align=center>Date of Report (Date of earliest event reported):<B> November 4,
2015 </B></P>
<P align=center><B><U><FONT size=5>LIGHTBRIDGE CORPORATION</FONT></U></B><B>
<BR></B>(Exact name of registrant as specified in its charter) </P>
<TABLE
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  <TR vAlign=top>
    <TD align=center><B><U>Nevada </U></B></TD>
    <TD align=center width="33%"><B><U>001-34487 </U></B></TD>
    <TD align=center width="33%"><B><U>91-1975651 </U></B></TD></TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction </TD>
    <TD align=center width="33%">(Commission </TD>
    <TD align=center width="33%">(IRS Employer </TD></TR>
  <TR vAlign=top>
    <TD align=center>of incorporation) </TD>
    <TD align=center width="33%">File Number) </TD>
    <TD align=center width="33%">Identification No.) </TD></TR></TABLE>
<P align=center><B>1600 Tysons Boulevard, Suite 550 <BR></B><B><U>McLean, VA
22102 <BR></U></B>(Address of principal executive offices, including zip code)
</P>
<P align=center><B><U>(571)730-1200</U></B><B> <BR></B>(Registrant&#146;s Telephone
Number, Including Area Code) </P>
<P align=center><B><U>Not Applicable</U></B><B> <BR></B>(Former name or former
address, if changed since last report) </P>
<P align=justify>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions: </P>
<P align=justify>[&nbsp;&nbsp; ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425) </P>
<P align=justify>[&nbsp;&nbsp; ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a -12) </P>
<P align=justify>[&nbsp;&nbsp; ]&nbsp;Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))</P>
<P align=justify>[&nbsp;&nbsp; ] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))</P>
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<P align=justify><B>Item 2.02 Results of Operations and Financial Condition.
</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November 4, 2015, Lightbridge
Corporation (the &#147;Company&#148;) issued a press release relating to its results for
the quarter ended September 30, 2015. A copy of the press release is furnished
herewith as Exhibit 99.1. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information in this Current
Report on Form 8-K under Item 2.02, including the accompanying press release,
shall not be deemed &#147;filed&#148; for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, except as
shall be expressly set forth by reference to such filing. </P>
<P align=justify><B>Item 4.02 Non-Reliance on Previously Issued Financial
Statements or a Related Audit Report or Completed Interim Review.</B> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On November 4, 2015, the
Audit Committee of the Company&#146;s Board of Directors, after considering the
recommendations of management, concluded that the Company&#146;s consolidated
financial statements as of and for the twelve months ended December 31, 2014 and
2013 and the quarters therein and its condensed consolidated financial
statements for the three months ended March 31, 2015 and 2014 and the three
months and six months ended June 30, 2015 and 2014 (collectively, the
&#147;Non-Reliance Periods&#148;), as reported in the Company&#146;s Annual Report on Form 10-K
filed on March 25, 2015 and Quarterly Reports on Form 10-Q filed on May 7, 2015
and August 19, 2015, should not be relied upon because of errors identified
therein. Accordingly, investors, analysts and other persons should not rely upon
the Company&#146;s previously released financial statements and other financial data
for the Non-Reliance Periods or any press releases, investor presentations or
other communications that relate to that information. The Company anticipates
that it will file restated financial statements covering these periods on or
about November 30, 2015. Management is evaluating the Company&#146;s disclosure
controls and procedures and internal controls over financial reporting and will
provide final evaluations in the amended filings. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As previously disclosed in the
Company&#146;s Form 8-K filed on September 14, 2015, the Company has historically
accounted for its outstanding warrants as a component of stockholders&#146; equity,
based on the terms of the warrants and the application of FASB Accounting
Standards Codification Topic 815-40, Derivatives and Hedging &#151; Contracts in
Entity&#146;s Own Equity. On September 4, 2015, management sent a letter to the
Office of the Chief Accountant of the Securities and Exchange Commission (the
&#147;SEC&#148;) concerning the appropriate accounting treatment for its outstanding
warrants. After discussions with the SEC staff, management determined that the
warrants should have been initially classified as derivative liabilities.
Accordingly, the Company today is announcing that it will restate its historical
financial results for the Non-Reliance Periods to reclassify the warrants as
derivative liabilities, with changes to the fair market value of the issuance of
the warrants in subsequent periods reported in the Company&#146;s statement of
operations.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;While the Company is continuing
to perform a detailed review of its previously reported financial information,
the Company currently anticipates that, when all of the necessary adjustments
are aggregated, the net cumulative effect on each of its financial statements
for the Non-Reliance Periods will be material but will be a non-cash item on the
Company&#146;s financial statements and will not affect the Company&#146;s cash position,
the extent of any potential dilution to the Company&#146;s stockholders or any future
cash flows of the Company except in the case of a change of control of the
Company and even then in only certain circumstances. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee and
management have discussed the matters disclosed in this Item 4.02(a) with the
Company&#146;s independent registered public accounting firm. </P>
<P align=justify><B>Forward Looking Statements </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>With the exception of
historical matters, the matters discussed in this Form 8-K are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding the Company&#146;s intent to restate certain
historical financial statements and </I><i>the timing and impact of any restatement. These statements
are based on current expectations on the date of this Form 8-K and involve a
number of risks and uncertainties that may cause actual results to differ
significantly from such estimates. The risks include, but are not limited to,
the risk that additional information may become available in preparing and
auditing the financial statements which would require the Company to make
additional corrections, the cost, time and effort required to complete the
restatement of the financial statements, and the ramifications of the Company&#146;s
potential inability to timely file periodic and other reports with the SEC.
Lightbridge does not assume any obligation to update or revise any such
forward-looking statements, whether as the result of new developments or
otherwise. Readers are cautioned not to put undue reliance on forward-looking
statements. </i></P>
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<P align=justify><B>Item 9.01 Financial Statements and Exhibits </B><I></I></P>
<P align=justify>(d) Exhibits </P>
<TABLE
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  <TR vAlign=top>
    <TD align=left >99.1 </TD>
    <TD align=left width="92%">Press Release dated November 4, 2015.
  </TD></TR></TABLE><BR>
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<P align=center><B>SIGNATURES </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="50%" align=left >&nbsp; </TD>
    <TD align=left colSpan=2><B>Lightbridge Corporation</B> </TD>
  </TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >Date: November 4, 2015 </TD>
    <TD align=left width="5%" >By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="45%">/s/
      Seth Grae </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="5%" >Name: </TD>
    <TD align=left width="45%">Seth Grae </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="5%" >Title: </TD>
    <TD align=left width="45%">Chief Executive Officer
</TD></TR></TABLE><BR>
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<P align=center><B>EXHIBIT INDEX </B></P>
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center ><B>Exhibit</B> </TD>
    <TD align=left width="2%"  >&nbsp;</TD>
    <TD align=left width="88%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      ><B>No.</B> </TD>
    <TD align=left width="2%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      width="88%"><B>Description</B> </TD></TR>
  <TR>
    <TD align=center >&nbsp; </TD>
    <TD width="2%"  >&nbsp;</TD>
    <TD width="88%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee ><a href="exhibit99-1.htm">99.1 </a></TD>
    <TD align=left width="2%"  bgColor=#eeeeee
    >&nbsp;</TD>
    <TD align=left width="88%" bgColor=#eeeeee><a href="exhibit99-1.htm">Press Release dated November 4,
      2015. </a></TD>
  </TR></TABLE>
<BR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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    <TD vAlign=bottom align=left>&nbsp;<IMG src="exhibit99-1x1x1.jpg" border=0></TD>
    <TD vAlign=bottom align=right width="50%"><B>FOR IMMEDIATE RELEASE</B>
  </TD></TR></TABLE>
<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Lightbridge Provides Update on
Nuclear Fuel Commercialization Plan, <BR>Business Update and Selected Financial
Results for the Third Quarter of 2015 </B></P>
<P align=center><I>Major nuclear operators expand support for Lightbridge fuel
to include <BR>expert technical advice in the area of NRC regulatory licensing
activities</I><B> </B></P>
<P align=justify><B>MCLEAN, Va., Nov. 4, 2015 -- Lightbridge Corporation
(NASDAQ:LTBR) </B>today issued an update on its commercialization strategy and
provided a business update for the three and nine months ended September 30,
2015 and certain preliminary unaudited financial results for the third quarter
2015. </P>
<P align=justify>Lightbridge is also announcing a non-cash restatement to reclassify its
  outstanding warrants as derivative liabilities. As previously disclosed,
  management voluntarily sought guidance from the staff of the Office of the Chief
  Accountant of the Securities and Exchange Commission regarding the
  classification of the Company&#146;s warrants. Based on such guidance, management has
  determined that the Company&#146;s outstanding warrants should have been initially
  classified as derivative liabilities instead of as a component of stockholders&#146;
  equity, with changes to the fair market value of the issuance of the warrants in
  subsequent periods reported in the Company&#146;s statement of operations. </P>
<P align=justify>Accordingly, the Company will restate its historical financial
results for the years ended December 31, 2014 and 2013 and the quarters therein,
and the quarterly periods in 2015 that ended March 31 and June 30. The Company
anticipates that it will file restated financial statements covering these
periods on or about November 30, 2015. The restatement will be a non-cash item
on the Company&#146;s financial statements and will not affect the Company&#146;s cash
position, the extent of any potential dilution to the Company&#146;s stockholders or
any future cash flows of the Company except in the case of a change of control
of the Company and even then in only certain circumstances. </P>
<P align=justify>Linda Zwobota, Chief Financial Officer of Lightbridge
Corporation, commented, &#147;We carefully analyzed our filings based on the latest
SEC interpretations, and believe this restatement reflects our commitment to
best practices and transparency. Importantly, this restatement does not impact
our cash position, financing agreements or progress on our development plans.&#148;
</P>
<P align=justify><B>Recent Highlights: </B></P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>Lightbridge and Institute for Energy Technology (IFE) entered into a
  binding services agreement for irradiation testing of Lightbridge&#146;s nuclear
  fuel samples in IFE&#146;s Halden research reactor in Norway </P>
  <LI>
  <P>IFE awarded an export license by the Norwegian Ministry of Foreign Affairs
  for irradiation testing and discharge of Lightbridge-designed metallic fuel
  </P>
  <LI>
  <P>IFE&#146;s Safety Committee approved Lightbridge&#146;s planned loop irradiation
  experiment in the Halden research reactor </P></LI></UL>
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<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>Lightbridge and Canadian Nuclear Laboratories (CNL) entered into a
  comprehensive nuclear services agreement for fabrication of Lightbridge&#146;s
  patented next generation metallic nuclear fuel test samples at CNL facilities
  at Chalk River, Ontario, Canada </P>
  <LI>
  <P>Initial task and purchase orders issued under agreements with CNL and IFE
  </P>
  <LI>
  <P>Four of the largest U.S. nuclear power plant operators continue to advise
  Lightbridge on its nuclear fuel program, and recently expanded their support
  to include expert technical advice in the area of U.S. Nuclear Regulatory
  Commission (NRC) regulatory licensing activities </P>
  <LI>
  <P>Lightbridge is currently engaged in discussions with leading global nuclear
  fuel manufacturers </P>
  <LI>
  <P>Additional Korean and Australian patents issued </P></LI></UL>
<P align=justify>Seth Grae, President &amp; Chief Executive Officer of
Lightbridge Corporation, commented, &#147;We are advancing rapidly toward
commercialization of our metallic fuel and, in many respects, are ahead of
schedule. The recent binding services agreement with IFE for irradiation testing
of our fuel, coupled with our comprehensive nuclear services agreement with CNL
round out the remaining contractual requirements to commence irradiation under
prototypic commercial reactor operating conditions. We plan to begin fuel
fabrication and characterization of prototype fuel rods using depleted uranium
in mid-2016, followed by fabrication of irradiation fuel samples using enriched
uranium before the end of next year.&#148; </P>
<P align=justify>&#147;As previously announced, four of the leading U.S. nuclear
operators asked the NRC to prepare to review Lightbridge&#146;s fuel design. This
milestone was completed almost a year ahead of our original goal. These four
utilities continue to advise Lightbridge on its nuclear fuel program, and more
recently, expanded their support to include expert technical advice in the area
of NRC regulatory licensing activities. The level of their cooperation with
Lightbridge is further validation of the demand for our fuel from potential
customers. Given this strong support, we are now in discussions with major
global nuclear fuel manufacturers. Our original goal was to have a commercial
arrangement in place with one of these companies in 2017 or 2018, but current
progress may lead to such an arrangement ahead of schedule.&#148; </P>
<P align=justify>&#147;We believe we are on the cusp of our fuel technology gaining
an important place in the nuclear industry, given the significant economic
benefits of our fuel for reactor operators, further bolstered by the U.S. Clean
Energy Plan, which allows credit for new nuclear power plants and power uprates
or increased efficiencies at existing nuclear power plants. In addition to the
financial benefits, our fuel provides significant safety advantages, as
evidenced by a 1,000&#176;C reduction in average fuel operating temperature, compared
to conventional uranium dioxide pellet fuel. Not only does our fuel operate at
lower temperature, but in a design basis accident it does not run the risk of
hydrogen gas buildup. Assuming just modest penetration in the U.S. market, we
have the potential to generate hundreds of millions of dollars annually in high
margin royalty fees upon successful commercialization. We will also introduce
our fuel technology to the large and growing global market.&#148; </P>
<P align=justify>Further commenting on the potential impact of the U.S. Clean
Energy Plan, Mr. Grae stated, &#147;The United States Clean Power Plan gives credit
for increased power generated by existing and new reactors. Other countries are
also preparing plans that may include similar provisions. These rules make sense
because nuclear reactors do not emit carbon dioxide. Lightbridge designed its
metallic fuel to have the specific benefit of increasing the power output of
reactors, exactly meeting the aforementioned goal of the Clean Power Plan.
Lightbridge metallic fuel accomplishes the power uprate by increasing the power
generated by the reactor every day the plant operates, as well as by lengthening
the fuel cycle, so the reactor is shut down for refueling fewer days per year.&#148;
</P>
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<P align=justify>&#147;In advance of our commercial roll-out, we continue to
carefully manage our expenses, while maintaining no long-term debt. Over the
next 12 to 15 months, we expect to incur approximately $3.0 million in research
and development expenses related to the development of our proprietary nuclear
fuel designs. We believe that our cash on hand, combined with funding
commitments and other strategic options we are pursuing, will provide us
sufficient liquidity to execute our growth strategy. Our strategy is to minimize
costs and dilution through alliances with fuel vendors, fuel manufacturers and
other strategic partners.&#148; </P>
<P align=justify><B>Financial Results </B></P>
<P align=justify>For the quarter ended September 30, 2015, Lightbridge generated
preliminary unaudited revenue of $234,000 compared to revenue of $275,000 for
the same period last year. All revenue was generated from consulting services.
For the nine months ended September 30, 2015, the Company&#146;s cash flows used in
operating activities were $2.5 million versus $3.4 million used in operating
activities for the same period of 2014, a decline of approximately 26%, due
primarily to reduced overhead expenses in 2015.</P>
<P align=justify>On September 4, 2015, we entered into an equity purchase
agreement with Aspire Capital Fund, LLC, which commits Aspire Capital to
purchase up to an aggregate of $10.0 million of our common stock at our election
over a two-year term, subject to certain terms and conditions. The Company has
filed a Registration Statement on Form S-1 with the Securities and Exchange
Commission to register the resale of these common shares by Aspire Capital. </P>
<P align=justify><B>Balance Sheet Overview </B></P>
<P align=justify>At September 30, 2015, the Company had approximately $2.0
million in cash, cash equivalents and restricted cash, and approximately $1.8
million of working capital, with no long-term debt. Common shares outstanding at
September 30, 2015 totaled 18,523,453. </P>
<P align=justify><B>Commercial Nuclear Energy Market Opportunity </B></P>
<P align=justify>The commercial nuclear energy industry is projected to grow
rapidly at a time of rising global demand for reliable, carbon-free, base load
electric power. There are currently 436 operable civil nuclear reactors in 30
countries around the world, with 67 reactors under construction and 488 on
order, planned or proposed, according to the World Nuclear Association. By 2040,
the International Energy Agency projects a 58% increase in nuclear capacity from
a combination of power uprates and reactor construction. While some older
reactors are closing in the U.S. and Europe, the global market is growing. </P>
<P align=justify>For a detailed description of the value proposition of
Lightbridge fuel technology, including projected incremental annual net
operating cash flows and return on investment for a nuclear power plant operator
using Lightbridge fuel at various wholesale electricity prices, visit
http://bit.ly/1jLXpoY. The advantages of Lightbridge's metallic fuel design have
been confirmed in independent third-party analyses. These reports, which include
a peer-reviewed article published in Nuclear Technology and reports by Siemens,
are available for download at http://ir.ltbridge.com/.</P>
<P align=justify><B>2015 Third Quarter Conference Call </B></P>
<P align=justify>Lightbridge will hold a conference call and webcast on
Thursday, November 5, at 11 a.m. ET to discuss the Company's 2015 third quarter
results and to provide an update on recent corporate developments. </P>
<P align=justify>Interested parties can access the conference call by calling
888-632-3384 for U.S. callers, or +1- 785-424-1675 for international callers.
The call will be available on the Company&#146;s website via webcast at <u>http://ir.ltbridge.com/events.cfm</u>. The conference call
will be led by Seth Grae, President and Chief Executive Officer and other
Lightbridge executives will also be available to answer questions. Questions may
also be submitted in writing before or during the conference call to
ir@ltbridge.com.</P>
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<P align=justify>A webcast will also be archived on the Company&#146;s website and a
telephone replay of the call will be available approximately one hour following
the call, through midnight December 5, 2015, and can be accessed by calling:
800-388-9074 (U.S. callers) or +1- 402-220-1117 (international callers) and
entering conference ID: LIGHTBRIDGE. </P>
<P align=justify><B>About Lightbridge Corporation</B><B><I> </I></B></P>
<P align=justify>Lightbridge is a nuclear energy company based in McLean,
Virginia, USA. The Company develops proprietary next generation nuclear fuel
technologies for current and future nuclear reactor systems. Lightbridge's
breakthrough fuel technology is establishing new global standards for safe and
clean nuclear power and leading the way to a sustainable energy future. The
Company also provides comprehensive advisory services for established and
emerging nuclear programs based on a philosophy of transparency,
non-proliferation, safety and operational excellence. Lightbridge consultants
provide integrated strategic advice and expertise across a range of disciplines
including regulatory affairs, nuclear reactor procurement and deployment,
reactor and fuel technology and international relations. The Company leverages
those broad and integrated capabilities by offering its services to commercial
entities and governments with a need to establish or expand nuclear industry
capabilities and infrastructure. </P>
<P align=justify>The advantages of Lightbridge's metallic fuel design have been
confirmed in independent third-party analyses. These reports, which include a
peer-reviewed article published in Nuclear Technology and reports by Siemens,
are available for download at http://ir.ltbridge.com/. The indicated benefits of
Lightbridge&#146;s fuel include: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>A 1,000&#176;C reduction in average fuel operating temperature, compared to
  conventional uranium dioxide pellet fuel, resulting in dramatic safety
  improvements; </P>
  <LI>
  <P>Improved heat transfer and fluid flow, increased structural strength, and
  improved performance during accidents and transients (changes in reactor
  coolant system temperature and/or pressure attributed to a change in the
  reactor&#146;s power output) </P>
  <LI>
  <P>10% more power and longer fuel cycles or up to 17% more power with the same
  fuel cycle length for existing pressurized water reactors (PWRs); </P>
  <LI>
  <P>Increased revenue and improved profit margins for existing nuclear power
  units; </P>
  <LI>
  <P>Up to 30% more power with the same fuel cycle length for new build PWRs;
  </P>
  <LI>
  <P>Lower total levelized cost per kilowatt-hour for new build reactors; </P>
  <LI>
  <P>Increased competitiveness of nuclear power versus fossil and renewable
  energy sources. </P></LI></UL>
<P align=justify>To receive Lightbridge Corporation updates via e-mail,
subscribe at <I><U>http://ir.ltbridge.com/alerts.cfm</U></I>?<I> </I></P>
<P align=justify>Lightbridge is on Twitter. Sign up to follow @LightbridgeCorp
at <I><U>http://twitter.com/lightbridgecorp</U></I>. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A>
<P align=justify><B><I>Forward Looking Statements </I></B></P>
<P align=justify><I>With the exception of historical matters, the matters
discussed in this news release are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including statements
regarding the Company's competitive position, the timing of demonstration
testing and commercial production, the Company&#146;s entry into agreements with
nuclear fuel manufacturers and the timing thereof, the potential impact of the
U.S. Clean Energy Plan and similar regulations, the Company&#146;s anticipated
financial resources and position, the Company&#146;s product and service offerings,
the expected market for the Company&#146;s product and service offerings, the
Company&#146;s intent to restate certain historical financial statements and the
timing and impact of any restatement. These statements are based on current
expectations on the date of this news release and involve a number of risks and
uncertainties that may cause actual results to differ significantly from such
estimates. The risks include, but are not limited to, the degree of market
adoption of the Company's product and service offerings; market competition;
dependence on strategic partners; demand for fuel for nuclear reactors; the
Company's ability to manage its business effectively in a rapidly evolving
market; the risk that additional information may become available in preparing
and auditing the restated financial statements which would require the Company
to make additional corrections; the cost, time and effort required to complete
the restatement of the financial statements; and the ramifications of the
Company&#146;s potential inability to timely file periodic and other reports with the
SEC, as well as other factors described in Lightbridge's filings with the
</I><I><U>Securities and Exchange Commission</U></I><I>. Lightbridge does not
assume any obligation to update or revise any such forward-looking statements,
whether as the result of new developments or otherwise. Readers are cautioned
not to put undue reliance on forward-looking statements.</I> </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Investor Relations Contact:</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>David Waldman/Natalya Rudman </TD></TR>
  <TR vAlign=top>
    <TD align=left>Crescendo Communications, LLC </TD></TR>
  <TR vAlign=top>
    <TD align=left>Tel. +1 855-379-9900 </TD></TR>
  <TR vAlign=top>
    <TD align=left><U>ltbr@crescendo-ir.com</U> </TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

</BODY>

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