Landore Resources Limited Sale of 50% NSR on the Root Lake Lithium Property (3384C)
October 10 2022 - 4:56AM
UK Regulatory
TIDMLND
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 Tel: 07734 681262
Officer
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) Tel: 020 7409 3494
James Dance / James Spinney / Robert
Collins
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END
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