Issue of Equity

RNS Number : 7888J

Landore Resources Limited

07 April 2010

 



Landore Resources Limited

("Landore" or the "Company")

Placing

Landore, the Canadian mining explorer, today announces that it has agreed to place 11,200,000 new ordinary shares of 1p each in the Company ("Placing Shares") at a placing price of 11p per Placing Share (the "Placing") to raise approximately £1,232,000 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.  Changes in discloseable interests are as set out below. 

Director	Placing Shares Subscribed	Shareholding immediately following Admission	Percentage of enlarged issued share capital
William Humphries	2,000,000	17,165,000	8.53

The Placing Shares will represent 5.6% of the 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 201,159,325. 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 13 April 2010.

Enquiries:

Bill Humphries / Richard Prickett

Landore Resources Limited

Tel: [phone]

Tel: [phone]

Simon Raggett / Angela Peace

Strand Hanson Limited

Nomad / Joint Broker

Tel: [phone]

Ewan Leggat

Fairfax I.S. PLC

Joint Broker

Tel: [phone]

David Bick

Financial PR

Tel: [phone]

 

END

 

 

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