Placing

RNS Number : 5538B

Landore Resources Limited

29 October 2009

 



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: [phone]

Tel: [phone]

Simon Raggett / Angela Peace

Strand Hanson Limited

Tel: [phone]

David Bick

Tel: [phone]

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