Landore Resources Ld - Update on Proposed Financing and TSX-V Listing
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Released
Announcement PDF
RNS Number : 0850W
Landore Resources Limited
08 December 2023
LANDORE RESOURCES LIMITED
UPDATE ON PROPOSED PRIVATE PLACEMENT AND DUAL LISTING
ON THE TSX VENTURE EXCHANGE
London, United Kingdom - 8 December 2023 - Landore Resources Limited (AIM: LND) ("Landore Resources" or the
"Company") provides an update in respect of its proposed non-brokered private placement (the "Offering") and
application to dual list the Company's ordinary shares on the TSX Venture Exchange (the "Exchange").
As announced on 9 November 2023, the Company launched the Offering seeking to raise gross proceeds of, in aggregate,
up to C$5m to facilitate the dual listing application. Since that announcement, turbulent market conditions worldwide
have created significant fund raising challenges, particularly for the junior natural resource sector. Accordingly, the
Company has decided to terminate the Offering and defer its fund raising efforts until, inter alia, there is a sustained
improvement in market conditions. Consequently, the Board of Directors has postponed the proposed dual listing on the
Exchange until further notice.
The Company has already initiated a plan to reduce certain costs and preserve its cash resources as appropriate. The
Company will revisit financing opportunities during Q1 2024 and is also exploring alternative funding options to enable it
to, inter alia, proceed with a drilling campaign on its flagship BAM Gold Project at the Junior Lake property in Northwestern
Ontario at the earliest opportunity. The Company will provide further updates in due course as appropriate.
For further information, please contact:
Landore Resources Limited
Tania Barreto, Corporate Communications/Marketing
Tel: +1-289-248-3675
IR@Landore.com
Strand Hanson Limited (Nominated Adviser and Joint Broker)
James Dance/Matthew Chandler/Robert Collins
Tel: 020 74093494
Novum Securities Limited (Joint Broker)
Jon Belliss/Colin Rowbury
Tel: 020 73999402
About Landore Resources
Landore Resources Limited is an exploration/development company that seeks to grow shareholder value through the
advanced exploration and development of precious and battery metals projects in eastern Canada. The Company is
primarily focused on the development of its 100% owned BAM Gold Project, located on the Junior Lake Property in
Northwestern Ontario.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated
under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European
Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.
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