Proceeds will strengthen balance sheet, maintain financial flexibility
By Devika Patel
Knoxville, Tenn., June 3 – NuLegacy Gold Corp. said it settled a C$2.29 million non-brokered private placement of units. The deal priced for C$1.88 million on May 26 and was increased to C$2.19 million to accommodate demand on May 29.
The company sold 18,308,600 units of one common share and one half-share warrant at C$0.125 per unit.
Each two-year warrant will be exercisable at C$0.15 in the first year and at C$0.20 in the second year. The strike prices are 7.1% and 42.86% premiums, respectively, to the May 25 closing share price of C$0.14.
Proceeds will be used to strengthen the company’s balance sheet and maintain financial flexibility.
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$2,288,575
|
| Units: | 18,308,600
|
| Price: | C$0.125
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15 in the first year, C$0.20 in the second year
|
| Agent: | Non-brokered
|
| Pricing date: | May 26
|
| Upsized: | May 29
|
| Settlement date: | June 3
|
| Stock symbol: | TSX Venture: NUG
|
| Stock price: | C$0.14 at close May 25
|
| Market capitalization: | C$20.5 million
|
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