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About this update from Landore Resources Limited
[{"type":"text","content":"\n \nRNS Number : 8001A Landore Resources Limited 10 June 2016 \n\n \n10 June 2016 \n \n \nLANDORE RESOURCES LIMITED\n(\"Landore Resources\" or the \"Company\")\n \nLandore Resources raises C$2.259 million\nDrilling to commence on Junior Lake BAM East Gold prospect on 30 June\n \nLandore Resources (AIM: LND) is pleased to announce it has raised gross proceeds of approximately C$2.259 million (approximately £1.221 million) through a subscription (the \"Subscription\") of 71,843,000 new ordinary shares of 1p each in the Company (the \"New Ordinary Shares\") at a price of 1.7 pence per New Ordinary Share (the \"Issue Price\"). \nThe Issue Price represents a premium of approximately 1.5 per cent. to the closing middle market price of 1.675 pence per ordinary share on 9 June 2016, being the last trading day prior to this announcement and the New Ordinary Shares represent approximately 10.3 per cent. of the enlarged issued share capital. \nThe net proceeds of the Subscription will be used by the Company to finance working capital and exploration expenditure on the Junior Lake BAM East Gold prospect.\nChanges in Directors' disclosable interests pursuant to the Subscription are as set out below. \n \n\n\n\n\nDirector\n\n\nNew Ordinary Shares subscribed\n\n\nShareholding immediately following admission\n\n\nPercentage of enlarged issued share capital\n\n\n\n\nWilliam Humphries\n\n\n7,400,000\n\n\n57,314,119\n\n\n8.19\n\n\n\n\nRichard Prickett\n\n\n1,188,977\n\n\n11,144,876\n\n\n1.59\n\n\n\n\nHelen Green\n\n\n590,000\n\n\n1,617,583\n\n\n0.23\n\n\n\n\n \n \nCommenting on today's announcement, Bill Humphries, Chief Executive of Landore Resources, said:\n\"We are delighted with the strong support our shareholders continue to provide through this latest fund raise, which enables our operations team to continue the drilling campaign on the exciting new BAM East Gold discovery on our highly prospective Junior Lake Property. Drilling is expected to recommence on 30 June with results and news flow expected during August.\"\nThe accompanying investor presentation used for the Subscription is available on the Company's website:www.landore.com \nFurther details on the Subscription\n \nThe Subscription is conditional on admission of the New Ordinary Shares to trading on AIM (\"Admissi...