Non-brokered offering funds exploration programs, corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 5 - NuLegacy Gold Corp. said it took in C$142,000 in the second tranche of a C$1.5 million non-brokered private placement of units. The deal priced Oct. 18 and raised C$1.32 million on Nov. 21.
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 and 946,665 units in the second 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.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.5 million
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Units: | 10 million
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Price: | C$0.15
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike prices: | C$0.25 in the first year, C$0.35 in the last year
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Agent: | Non-brokered
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Pricing date: | Oct. 18
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Settlement dates: | Nov. 21 (for C$1.32 million), Dec. 5 (for C$142,000)
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Stock symbol: | TSX Venture: NUG
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Stock price: | C$0.15 at close Oct. 17
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Market capitalization: | C$11.23 million
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