Non-brokered offering funds exploration programs, corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 3 - NuLegacy Gold Corp. said it settled a C$216,335 third and final tranche of a C$1.88 million non-brokered private placement of units.
The offer priced for C$750,000 on Nov. 7 and was increased on Nov. 23 and Dec. 13; the company raised C$1.04 million on Dec. 5 and C$618,790 on Dec. 23.
The company sold a total of 12.5 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, 4,125,266 units in the second tranche and 1,442,234 units in the final 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$1,875,000
|
| Units: | 12.5 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), Dec. 23 (for C$618,790), Feb. 3 (for C$216,335)
|
| Stock symbol: | TSX Venture: NUG
|
| Stock price: | C$0.19 at close Nov. 7
|
| Market capitalization: | C$13.88 million
|
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