Landore Resources Limited announced a non-brokered private placement of units at a price of £0.065 per unit, flow-through units at a price of £0.071 per unit, and charitable flow-through units at a price of £0.091 per unit; for aggregate gross proceeds of £2.96 million on November 9, 2023. Each unit will consist of one new ordinary share and one warrant. Each flow-through unit and charitable flow-through unit will consist of one flow-through share and one warrant.

Each warrant shall entitle the holder to purchase one new ordinary share at a price of £0.098 at any time on or before that date which is 2 years after the closing date of the offering. The transaction will include participation from directors and officers of the company for £215,923.050. The transaction is scheduled to close on or around November 30, 2023, and is subject to certain conditions including, but not limited to, receipt of all necessary regulatory approvals.

The company may pay to eligible persons in accordance with applicable securities laws and regulatory policies a cash finder's fee of up to 6% of the gross proceeds of the offering placed by the finder and also issue warrants at an exercise price equal to £0.065 per share, exercisable for a period of 24 months following the closing date of the offering, to acquire in aggregate that number of new ordinary shares which is equal to 6% of the number of offered securities attributable to the finder. The new ordinary shares to be issued in respect of the offered securities will be subject to a restricted or lock-in period in Canada ending four months and a day after the later of the distribution date and the date the company becomes a reporting issuer in any province or territory of Canada.