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(Alliance News) - Landore Resources Ltd on Wednesday said it has raised GBP250,000 through a share subscription with James Hudleston, an existing investor in the company.
The mineral exploration firm said Hudleston subscribed for 35.7 million shares at 0.70 pence each.
Landore shares were trading flat on Wednesday in London at 0.70p each, giving it a market capitalisation of GBP8.4 million.
Following the subscription, Hudleston will have an interest in 215.4 million Landore shares, representing a 17% stake.
The proceeds of the subscription are to be used to further fund the working capital of the company, it said, and its exploration programme.
