Business
£1 million Fundraising
£1 million Fundraising.
About this update from Landore Resources Limited
[{"type":"text","content":"\n \nRNS Number : 8195A Landore Resources Limited 31 May 2019 \n\nTHIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) (\"MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\n \nLandore Resources Limited\n(\"Landore Resources\" or the \"Company\")\n(AIM Ticker: LND.L)\n£1 million Fundraising\nLandore Resources Limited (AIM:LND), is pleased to announce it has raised gross proceeds of £1m through a placing and subscription of 142,857,143 new Ordinary Shares at a price of 0.7 pence per new Ordinary Share with new and existing investors in the Company (the \"Fundraising\").\nHighlights\nA total of 112,142,856 new Ordinary Shares in the Company have been placed with institutional investors (the \"Placing\") and a total of 30,714,287 new Ordinary Shares in the Company were subscribed for by certain existing investors (together the \"New Ordinary Shares\"), together raising net proceeds of £1 million (C$ 1.72 million) at a price of 0.7 pence per New Ordinary Share (the \"Issue Price\"), a 4.11 per cent. discount to the closing mid-market price of an Ordinary Share on 30 May 2019 (the latest practicable date prior to this Announcement) being 0.73 pence. \n· The New Ordinary Shares will represent, in aggregate, approximately 11.87 per cent. of the Company's enlarged issued ordinary share capital immediately following Admission. \n· The net proceeds of the Fundraising will allow the Company to complete a 4,500 metre drilling programm...