By Sheri Kasprzak
Atlanta, Oct. 13 - Landore Resources Inc. will raise C$2 million in a private placement via agent Taheh Holdings.
The financing consists of 10 million units at C$0.20 per share. Each unit includes one common share and a common share purchase warrant. The one-year purchase warrants have an exercise price of C$0.25.
Landore, based in Thunder Bay, Ont., plans to use the funds from the deal for exploration and development expenses on its Miminiska Lake and Junior Lake properties and for general working capital.
| Issuer: | Landore Resources Inc.
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| Issue: | Units of one share and one purchase warrant
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| Amount: | C$2 million
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| Units: | 10 million
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| Price: | C$0.20
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| Warrants: | For one additional common share
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.25
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| Placement agent: | Taheh Holdings
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| Pricing date: | Oct. 13
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| Stock price: | C$0.23 at close Oct. 7 (last trade)
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