(AIM Ticker: LND.L)
THUNDER BAY, ON, April 17 /CNW/ - Landore, the Canadian mining explorer,
is pleased to announce that it has agreed to place 21,285,740 new ordinary
shares of 1p each in the Company ("Placing Shares") with CPG at a placing
price of 10p per Placing Share (the "Placing"). The Placing will raise
approximately GBP2.1 million which will be used to finance working capital and
exploration expenditure on Landore's Junior Lake Nickel Project.
The Placing Shares will represent approximately 17.5% of the enlarged
issued share capital of Landore and will rank pari passu with the existing
ordinary shares of 1p each in the Company.
The Placing is conditional upon passing of Resolutions 5 and 6 at
Landore's Annual General Meeting to be held on 1 May 2007. Application will be
made for admission of the Placing Shares to trading on AIM, and is expected to
take place on 2 May 2007.
Following completion of the Placing there will be 121,632,798 ordinary
shares of 1p each in issue.
For further information:
For further information: Bill Humphries, Chairman, Tel: 07734 681262,
Richard Prickett, Chief Executive, Tel: 07775 651421, Landore Resources
Limited; Simon Raggett, Strand Partners Limited, Tel: 020 7409 3494; David
Bick, Tel: 07831 381201