Legacy Gold arranges $4-million private placement

Executive Summary

• Legacy Gold Mines Ltd. announced a non-brokered private placement of up to 13.33 million common shares at $0.30 per share, targeting gross proceeds of up to $4.0 million.
• The capital raised will be primarily used to advance drilling activities at the Baner gold mine property in Idaho, with remaining funds allocated to business development and general administrative purposes.
• The transaction is subject to TSX Venture Exchange approval and includes a standard four-month hold period for the issued securities.

Key Details

• Transaction Type: Non-brokered private placement.
• Shares Offered: Up to 13.33 million common shares.
• Price Per Share: $0.30 CAD.
• Gross Proceeds: Up to $4.0 million.
• Use of Proceeds:
  • Advancing drilling activities at the Baner gold mine property (Orogrande mining district, Idaho).
  • Supporting continued business development.
  • General and administrative purposes.
• Regulatory Status: Subject to approval by the TSX Venture Exchange.
• Hold Period: Four-month hold period applies to the securities issued, in accordance with applicable securities laws.
• Fees: The company may pay a commission or finder's fee to eligible parties, subject to exchange approval and legal compliance.

Notable Quotes

• None provided in the text.