Non-brokered deal funds exploration and development of gold projects
By Devika Patel
Knoxville, Tenn., Dec. 21 - Legend Gold Corp. said it revised a non-brokered private placement of stock to raise C$1 million. The deal priced for C$1.5 million on Nov. 23.
The company will now sell 5 million common shares at C$0.20 per share; the shares were previously priced at C$0.25. The new price per share is a 16.67% discount to C$0.24, the Nov. 22 closing share price. Insiders are expected to buy up to half of the shares.
Settlement is expected Jan. 5.
Proceeds will be used for exploration and development of the company's gold projects in Mali and general corporate purposes.
Toronto-based Legend is a gold exploration company.
| Issuer: | Legend Gold Corp.
|
| Issue: | Common shares
|
| Amount: | C$1 million
|
| Shares: | 5 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 23
|
| Revised: | Dec. 21
|
| Settlement date: | Jan. 5
|
| Stock symbol: | TSX Venture: LGN
|
| Stock price: | C$0.22 at close Nov. 23
|
| Market capitalization: | C$11.45 million
|
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