Non-brokered offering funds exploration programs, corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 21 - NuLegacy Gold Corp. said it raised C$1.32 million in the first tranche of a C$1.5 million non-brokered private placement of units. The deal priced Oct. 18.
The company is selling 10 million units of one common share and one half-share warrant at C$0.15 per unit. It sold 8.8 million units in the first tranche.
Each whole, two-year warrant will be exercisable at C$0.25 in the first year and at C$0.35 in the last year. The strike prices are 66.67% and 133.33% premiums to the Oct. 17 closing share price of C$0.15.
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 half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike prices: | C$0.25 in the first year, C$0.35 in the last year
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 18
|
| Settlement date: | Nov. 21 (for C$1.32 million)
|
| Stock symbol: | TSX Venture: NUG
|
| Stock price: | C$0.15 at close Oct. 17
|
| Market capitalization: | C$9.78 million
|
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