Landore Resources Ltd - Raises GBP600,000 by way of a placing and subscription of 25 million shares at 2.4 pence per share. The new shares represent around 17% of the company's enlarged issued share capital. Notes the fundraising price represents a discount of around 23% to the closing price of 3.1p on January 3. Explains proceeds will be used for general working capital purposes and to progress the company's strategy of focusing on the advancement of its flagship BAM Gold Project at the Junior Lake property in Northwestern Ontario.
Current stock price: 2.55 pence, down 18% in London on Thursday
12-month change: down 85%
By Jeremy Cutler, Alliance News reporter
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Landore (LND)