Laneway Resources (ASX: LNY) has been granted a trading halt this morning by the ASX, with its shares placed in pre-open, pending a capital raising announcement.
Laneway is currently working through a restructure and recapitalisation which the company said in its March 2013 quarterly is well advancing. This includes a name change, share consolidation, cancelation of forfeited partly paids and implementation of cost reduction strategies.
The company is actively reviewing a number of new project opportunities.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 6th June 2013.
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