Last checked at 29 Oct 2009 07:00
Landore Resources Limited
("Landore" or the "Company")
Placing
Landore, the Canadian mining explorer, today announces that it has agreed to place 7,860,000 new ordinary shares of 1p each in the Company ("Placing Shares") at a placing price of 14p per share (the "Placing") to raise approximately £1,100,400 before expenses. The proceeds from the Placing will be used to finance working capital and exploration expenditure.
The Placing is conditional on admission of the Placing Shares to trading on AIM. Discloseable interests are as set out below.
| Director | Placing Shares Subscribed | Shareholding immediately following Admission | Percentage of enlarged issued share capital |
| William Humphries | 715,000 | 15,165,000 | 8% |
The Placing Shares will represent 4.1% of the then enlarged issued share capital of the Company. The number of ordinary shares in issue following the Placing, and the total number of voting rights, will be 189,909,325. The Placing Shares will rank pari passu with existing ordinary shares of 1p each in the Company. Application will be made for admission of the Placing Shares to trading on AIM, and is expected to take place on 9 November 2009.
Enquiries:
Bill Humphries / Richard Prickett
Landore Resources Limited
Tel: 07734 681262
Tel: 07775 651421
Simon Raggett / Angela Peace
Strand Hanson Limited
Tel: 020 7409 3494
David Bick
Tel: 07831 381201