Non-brokered offering funds exploration programs, corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 13 - NuLegacy Gold Corp. said it once again increased a non-brokered private placement of units to C$1.5 million from C$1.13 million. The offer priced for C$750,000 on Nov. 7 and was previously increased on Nov. 23; the company raised C$1.04 million on Dec. 5.
The company will now sell 10 million units of one common share and one warrant at C$0.15 per unit. It sold 6,932,500 units in the initial tranche.
Each 18-month warrant will be exercisable at C$0.25 in the first year and at C$0.35 in the last 6 months. The strike prices are 31.58% and 84.21% premiums to the Nov. 4 closing share price of C$0.19.
Proceeds will be used for gold exploration programs in Nevada and general corporate purposes.
NuLegacy is a Reno, Nev.-based gold exploration company.
| Issuer: | NuLegacy Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25 in the first year, C$0.35 in the last 6 months
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 7
|
| Upsized: | Nov. 23, Dec. 13
|
| Settlement date: | Dec. 5 (for C$1,039,875)
|
| Stock symbol: | TSX Venture: NUG
|
| Stock price: | C$0.19 at close Nov. 7
|
| Market capitalization: | C$8.45 million
|
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