November 12, 2013 - Reno, NV - NuLegacy Gold Corporation reports that it has closed an initial tranche of 7.23 million units of the 10 million unit non-brokered private placement being offered at a price of $0.10 per unit (announced September 26th, 2013) for gross proceeds of $723,000.
Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share of the Company for a period of 36 months, subject to acceleration, at a price of $0.15 during the first 18 months and $0.20 during the last 18 months.
The net proceeds will be used to finance the Company's exploration programs on its Iceberg gold project in Nevada, United States and for general corporate purposes. The Company may pay a finder's fee in connection with the financing in accordance with the policies of the TSX Venture Exchange.
The funds from this private placement together with the anticipated proceeds from the share exchange financing announced November 7, 2013 should be sufficient to complete the exploration programs required to earn-in NuLegacy's 70% interest in the Iceberg gold deposit.
All securities issued in connection with the initial closing are subject to a four month and one day hold period expiring March 13, 2014.
NuLegacy Gold Corporation is a Nevada based exploration company focused on delineating the near-surface Iceberg oxide gold deposit on a 60 square km property in the heart of the Cortez trend of Nevada optioned from Barrick Gold Corporation. The Iceberg deposit has similar geology to that of Barrick Gold's on-going multi-million ounce Goldrush gold discovery.
ON BEHALF OF THE BOARD OF DIRECTORS OF NULEGACY GOLD CORPORATION
James E Anderson, Chief Executive Officer
For further information please phone 604-638-4959 or contact James Anderson at email@example.com, Albert Matter at firstname.lastname@example.org or Roger Steininger, COO at email@example.com; or visit our website at www.nulegacygold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.