Last checked at 10 Oct 2022 10:56
LANDORE RESOURCES LIMITED
(AIM Ticker: LND.L)
SALE OF 50% ROYALTY ON THE ROOT LAKE LITHIUM PROPERTY
London, United Kingdom - 10 October 2022 - Landore Resources Limited (AIM: LND) ("Landore Resources" or "the Company") is pleased to announce that it has executed a binding agreement with ASX-listed Green Technology Metals Ltd ("GT1") for GT1 to buyback and extinguish 50% of the Company's 3% net smelter royalty interest over the Root Lake Project.
In consideration for the buyback, GT1 will make a payment of C$2 million in cash to the Company. The proposed transaction is conditional on Landore Resources and GT1 finalizing and executing an Extinguishment Agreement, which is expected to occur before 21 October 2022, and accordingly there can be no guarantee that the proposed transaction will be completed.
A further announcement will be made in due course, as appropriate.
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For more information, please contact:
Landore Resources Limited |
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Bill Humphries, Chief Executive Officer | Tel: 07734 681262 |
Glenn Featherby, Finance Director | Tel: 07730 420318 |
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Cenkos Securities (Nominated Advisor and Broker) |
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Derrick Lee / Peter Lynch
Strand Hanson Limited (Financial Adviser) James Dance / James Spinney / Robert Collins | Tel: 0131 220 9100
Tel: 020 7409 3494 |