November 7, 2013 Reno, NV - NuLegacy Gold Corporation has arranged a share exchange financing transaction with Global Resources Investments Ltd. ("GRIT") a U.K. based company, whereby NuLegacy Gold will, on closing, issue 20,000,000 common shares only of NuLegacy (circa 18.2% of the then outstanding shares) at a deemed price of C$0.10 per share ($2.0 million) in return for 1,193,175 GRIT ordinary shares at a deemed price of 1 British Pound per share.
Global Resources Investments Ltd., established to fund investments in the junior mining and natural resources sectors worldwide, intends to re-register as a public company and investment trust upon admission of its ordinary shares for listing on the London Stock Exchange. As a term of the transaction, GRIT has agreed to certain resale restrictions on the NuLegacy Gold shares including voting its NuLegacy shares as recommended by the board of directors of NuLegacy for a period of 3 years. NuLegacy intends to use the net proceeds from the subsequent sale of GRIT Shares, together with the proceeds from its concurrent non-brokered private placement announced on September 26, 2013, to fund further exploration and delineation of its Iceberg gold deposit in Nevada, U.S.A., and for general corporate purposes.
Closing of the transaction is subject to a number of conditions precedent including acceptance of the TSX Venture Exchange and the GRIT listing on the London Stock Exchange. The Company may pay a finder's fee in connection with the transaction in accordance with the policies of the TSX Venture Exchange.
NuLegacy Gold Corporation is a Nevada based exploration company focused on delineating the near-surface Iceberg oxide gold deposit on its 60 square km Red Hill option with Barrick Gold. 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 or 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.