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Landore Resources raises £225,000 in subscription backed by CEO and major shareholder

The mining firm raised the funds through a subscription to certain existing shareholders of around 32.1mln new shares at a price of 0.7p each, a 2.9% premium to its Monday close price

Landore Resources Ltd - Landore Resources raises £225,000 in subscription backed by CEO and major shareholder

Landore Resources Limited (LON:LND) has raised £250,000 in a share subscription backed by its chief executive, Bill Humphries, and James Hudleston, one of its major shareholders.

The Canada-focused mining firm raised the funds through a subscription to certain existing shareholders of around 32.1mln new shares at a price of 0.7p each, a 2.9% premium to its Monday close price.

READ: Landore pushes gold resource at BAM over the one million ounce mark

Humphries and Hudleston have subscribed for around 14.3mln new shares each in the company, taking their holdings to 7.6% and 20.5% respectively.

The company intends to add the proceeds to its existing cash resources.

Landore shares were steady at 0.68p in lunchtime trading on Tuesday.

Quick facts: Landore Resources Ltd

Price: 20.35 GBX

AIM:LND
Market: AIM
Market Cap: £18.46 m
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