Legend Oil files $50 million shelf for preferreds, debt securities

By Jennifer Chiou

New York, Jan. 13 - Legend Oil and Gas, Ltd. registered an up to $50 million shelf covering common stock, preferred stock, warrants and debt securities in an S-3 filing with the Securities and Exchange Commission.

The preferreds and securities may be structured as convertibles.

Proceeds will be used for working capital and general corporate purposes.

The oil and gas exploration, development and production company is based in Seattle.

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