(LND.L) Landore Resources Ltd Buy/Sell

RNS Number : 5538B Landore Resources Limited 29 October 2009

Landore Resources Limited

("Landore" or the "Company")

Placing

Landore, the Canadian mining explorer, today announces that it has agreed to place 7,860,000 new ordinary shares of 1p each in the Company ("Placing Shares") at a placing price of 14p per share (the "Placing") to raise approximately £1,100,400 before expenses. The proceeds from the Placing will be used to finance working capital and exploration expenditure.

The Placing is conditional on admission of the Placing Shares to trading on AIM. Discloseable interests are as set out below.

Director Placing Shares Shareholding Percentage of enlarged
Subscribed immediately issued share capital
following Admission
William Humphries 715,000 15,165,000 8%

The Placing Shares will represent 4.1% of the then enlarged issued share capital of the Company. The number of ordinary shares in issue following the Placing, and the total number of voting rights, will be 189,909,325. The Placing Shares will rank pari passu with existing ordinary shares of 1p each in the Company. Application will be made for admission of the Placing Shares to trading on AIM, and is expected to take place on 9 November 2009.

Enquiries:

Bill Humphries / Richard Prickett

Landore Resources Limited

Tel: 07734 681262

Tel: 07775 651421

Simon Raggett / Angela Peace

Strand Hanson Limited

Tel: 020 7409 3494

David Bick

Tel: 07831 381201

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This information is provided by RNS The company news service from the London Stock Exchange

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