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  NuLegacy Gold Closes Final Tranche of Private Placement
December 20, 2012

Reno, NV - NuLegacy Gold Corporation (NUG:V) reports that it has closed the third and final tranche of its non-brokered private placement first announced October 18, 2012. The Company has sold an additional 366,667 units ("Units") at a price of $0.15 per Unit for a total offering of 10,110,998 Units for gross proceeds of $1,516,650. All securities issued under the third closing are subject to a four month and one day hold period expiring April 21, 2013.

A finder's fee of $1,050 cash and 7,000 finder's warrants has been paid to a registered finder on a portion of the third tranche of the private placement, each finder's warrant entitling the holder to purchase one common share of the Company for a period of two years at a price of $0.25.

NuLegacy Gold Corporation is a Nevada focused exploration company exploring for Carlin-type replacement gold deposits on its two highly prospective district scale properties; the 100 km2 Red Hill Project and the 100 km2 Wood Hills South Project. Both projects have geology similar to the adjacent multi-million ounce gold discoveries that were made subsequent to the acquisition of our properties. The NuLegacy exploration and drilling programs underway employ proprietary techniques for targeting multi-million ounce deposits.

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 james@nuggold.com or Albert Matter at albert@nuggold.com or Roger Steininger, COO at roger@nuggold.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.

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