Landore Resources Ltd - Ontario, Canada-headquartered base and battery metals exploration and development company with projects in eastern Canada - Applies to London Stock Exchange for two tranche subscription of conditional new ordinary shares to trading on the AIM Index. New shares will rank pari passu with existing shares. Start of trading expected July 9. Company also to issue total 10.5 million warrants to Novum Securities Ltd and SCP Resource Finance LP. Warrants afford the right to acquire new ordinary shares at an exercise price of 2.4 pence each for three years from date of admission.
Further, Non-Executive Director Helen Green, and Landore Resources Canada Inc Chief Executive Officer Michele Tuomi subscribe £10,000 and £5,000 respectively, for total 625,000 new ordinary shares. Executive Director Glenn Featherby agrees to settle £60,000 in accrued fees and salary by the issue of 2.5 million new ordinary shares.
In addition, company appoints Chief Executive Officer Shaw to its board effective immediately. Shaw joined senior company management in June.
Current share price: 3.38 pence
12-month change: down 59%
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