Non-brokered offering funds exploration, general corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 10 - NuLegacy Gold Corp. said it raised C$160,000 in the third and final tranche of its C$1.25 million non-brokered private placement of units. The deal priced on Sept. 26 and raised C$723,000 on Nov. 12 and C$367,500 on Nov. 25. The offering was increased to C$1.25 million from C$1 million on Nov. 22.
The company sold 12,509,300 units of one common share and one warrant at C$0.10 per unit. It sold 7.23 million units in the initial tranche, 3,675,000 units in the second tranche and 1.6 million units in the third tranche.
Each three-year warrant is exercisable at C$0.15 in the first 18 months and at C$0.20 in the last 18 months. The strike prices are respective 87.5% and 150% premiums to the Sept. 25 closing share price of C$0.08.
Proceeds will be used for exploration 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$1,250,930
|
| Units: | 12,509,300
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.15 in the 18 months, C$0.20 in the last 18 months
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 26
|
| Settlement date: | Nov. 12 (for C$723,000), Nov. 25 (for C$367,500), Dec. 10 (for C$160,000)
|
| Stock symbol: | TSX Venture: NUG
|
| Stock price: | C$0.08 at close Sept. 25
|
| Market capitalization: | C$10.41 million
|
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