Landore Resources Limited (LON:LND) has raised £250,000 in a share subscription backed by its chief executive, Bill Humphries, and James Hudleston, one of its major shareholders.
The Canada-focused mining firm raised the funds through a subscription to certain existing shareholders of around 32.1mln new shares at a price of 0.7p each, a 2.9% premium to its Monday close price.
Humphries and Hudleston have subscribed for around 14.3mln new shares each in the company, taking their holdings to 7.6% and 20.5% respectively.
The company intends to add the proceeds to its existing cash resources.
Landore shares were steady at 0.68p in lunchtime trading on Tuesday.