Non-brokered offering funds exploration programs, corporate purposes
By Devika Patel
Knoxville, Tenn., April 12 - NuLegacy Gold Corp. said it raised C$810,000 in the first tranche of a C$1 million non-brokered private placement of units. The deal priced April 10.
The company is selling 10 million units of one common share and one warrant at C$0.10 per unit. It sold 8.1 million units in the initial tranche.
Each two-year warrant will be exercisable at C$0.15 in the first year and at C$0.20 in the last year. The strike prices are 66.67% and 122.22% premiums to the April 9 closing share price of C$0.09.
Proceeds will be used for gold exploration programs on the Red Hill project 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 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15 in the first year, C$0.20 in the last year
|
| Agent: | Non-brokered
|
| Pricing date: | April 10
|
| Settlement date: | April 12 (for C$810,000)
|
| Stock symbol: | TSX Venture: NUG
|
| Stock price: | C$0.09 at close April 9
|
| Market capitalization: | C$5.2 million
|
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