Non-brokered offering funds work programs, general corporate purposes
By Devika Patel
Knoxville, Tenn., March 17 - NuLegacy Gold Corp. said it completed a second tranche of a non-brokered private placement of units. The offer priced for C$1.2 million on Feb. 22 and was increased to C$1.32 million on March 4; the company raised C$300,000 in this tranche and C$1.31 million on March 10 for a total of C$1.61 million.
The company sold 5,370,500 units of one common share and one warrant at C$0.30 per unit. It sold 4,370,500 units in the first tranche and 1 million units in the second.
Each whole 18-month warrant will be exercisable at C$0.40 in the first year and at C$0.55 in the final six months. The strike prices are 33.33% and 83.33% premium to the Feb. 21 closing share price of C$0.30.
Proceeds will be used for the company's work programs 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$1,611,150
|
| Units: | 5,370,500
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike prices: | C$0.40 in the first year, C$0.55 in the final six months
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 22
|
| Upsized: | March 4
|
| Settlement dates: | March 10 (for C$1,311,150), March 17 (for C$300,000)
|
| Stock symbol: | TSX Venture: NUG
|
| Stock price: | C$0.31 at close Feb. 22
|
| Market capitalization: | C$7.71 million
|
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