REG - Landore Resources Ld - Sale of 50% NSR on the Root Lake Lithium Property

Landore ResourcesAnnouncement

10/10/2022 11:00

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RNS Number : 3384C  Landore Resources Limited  10 October 2022

LANDORE RESOURCES LIMITED

(AIM Ticker: LND.L)

 

SALE OF 50% ROYALTY ON THE ROOT LAKE LITHIUM PROPERTY

 

 

London, United Kingdom - 10 October 2022 - Landore Resources Limited (AIM:
LND) ("Landore Resources" or "the Company") is pleased to announce that it has
executed a binding agreement with ASX-listed Green Technology Metals Ltd
("GT1") for GT1 to buyback and extinguish 50% of the Company's 3% net smelter
royalty interest over the Root Lake Project.

 

In consideration for the buyback, GT1 will make a payment of C$2 million in
cash to the Company. The proposed transaction is conditional on Landore
Resources and GT1 finalizing and executing an Extinguishment Agreement, which
is expected to occur before 21 October 2022, and accordingly there can be no
guarantee that the proposed transaction will be completed.

 

A further announcement will be made in due course, as appropriate.

 

- ENDS -

 

For more information, please contact:

 

 Landore Resources Limited
 Bill Humphries, Chief Executive Officer                   Tel: 07734 681262
 Glenn Featherby, Finance Director                         Tel: 07730 420318

 Cenkos Securities (Nominated Advisor and Broker)
 Derrick Lee / Peter Lynch                                 Tel: 0131 220 9100

 Strand Hanson Limited (Financial Adviser)

 James Dance / James Spinney / Robert                      Tel: 020 7409 3494
 Collins

 

 

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