Non-brokered offering funds exploration, general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 22 - NuLegacy Gold Corp. said it increased its non-brokered private placement of units to C$1.25 million from C$1 million to accommodate demand. The deal priced on Sept. 26 and raised C$723,000 on Nov. 12.
The company is now selling 12.5 million units of one common share and one warrant at C$0.10 per unit. It sold 7.23 million units in the initial 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 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.
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Issue: | Units of one common share and one warrant
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Amount: | C$1.25 million
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Units: | 12.5 million
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Price: | C$0.10
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Warrants: | One warrant per unit
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Warrant expiration: | Three years
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Warrant strike prices: | C$0.15 in the first 18 months, C$0.20 in the last 18 months
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Agent: | Non-brokered
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Pricing date: | Sept. 26
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Upsized: | Nov. 21
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Settlement date: | Nov. 12 (for C$723,000)
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Stock symbol: | TSX Venture: NUG
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Stock price: | C$0.08 at close Sept. 25
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Market capitalization: | C$9.56 million
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