Deal size nearly doubled to 19.5 million units at C$0.30 per unit
By Susanna Moon
Chicago, July 12 – NuLegacy Gold Corp. upsized its private placement of units to C$5.85 million from the C$3 million size announced at pricing on July 5. The deal remains non-brokered.
The company now will sell 19.5 million units, up from 10 million, of one common share and one warrant at C$0.30 per unit.
Each warrant is exercisable for 18 months at C$0.45, which is a 25% premium to the June 30 closing share price of C$0.36.
Proceeds will be used to fund the company’s gold exploration programs and for general corporate purposes.
“We greatly appreciate this show of support from our existing and new shareholders,” James Anderson, NuLegacy’s chief executive officer, said in the company’s press release.
“It will allow us to expand the operation by adding new expertise, executing additional geo-physical and geo-chemical survey programs that were previously constrained by budgetary limitations and modestly accelerate the drilling programs.”
NuLegacy is a Reno, Nev.-based gold exploration company.
| Issuer: | NuLegacy Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5.85 million, up from C$3 million
|
| Units: | 19.5 million
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.45
|
| Agent: | Non-brokered
|
| Pricing date: | July 4
|
| Upsized: | July 12
|
| Settlement date: | July 13
|
| Stock symbol: | TSX Venture: NUG
|
| Stock price: | C$0.36 at close June 30
|
| Market capitalization: | C$82.57 million
|
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