Proceeds will strengthen balance sheet, maintain financial flexibility
By Devika Patel
Knoxville, Tenn., May 29 – NuLegacy Gold Corp. said it increased its non-brokered private placement of units to C$2.19 million from C$1.88 million to accommodate demand. The deal priced on May 26.
The company will now sell 17.5 million 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.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$2,187,500
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Units: | 17.5 million
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Price: | C$0.125
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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 price: | C$0.15 in the first year, C$0.20 in the second year
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Agent: | Non-brokered
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Pricing date: | May 26
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Upsized: | May 29
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Stock symbol: | TSX Venture: NUG
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Stock price: | C$0.14 at close May 25
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Market capitalization: | C$20.5 million
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