Legacy Gold Announces Increase in Size of Its Non-Brokered Private Placement

Executive Summary

• Legacy Gold Mines Ltd. announced an increase to its non‑brokered private placement, now permitting the sale of up to 25 million common shares at C$0.30 per share for potential gross proceeds of C$7.5 million.
• Proceeds are earmarked to fund drilling and project development at the Baner Gold Mine, as well as business development, general and administrative expenses.
• The placement remains subject to TSX Venture Exchange approval and includes a four‑month hold period on the issued securities; a commission or finder's fee may be paid to eligible parties.

Key Details

• Maximum Offering Size: 25,000,000 common shares (up from prior limits).
• Price per Share: C$0.30.
• Potential Gross Proceeds: Up to C$7.5 million.
• Use of Proceeds:
• Advance drilling and development activities at the Baner Gold Mine property in Idaho.
• Support business development initiatives.
• Cover general and administrative expenses.
• Regulatory Conditions:
• Subject to approval by the TSX Venture Exchange.
• Issued securities will be subject to a four‑month hold period under applicable securities laws.
• Commission/Finders’ Fee: Company may pay a commission or finder's fee to eligible parties, pending exchange approval and compliance with securities regulations.

Notable Quotes

• “The additional capital from this expanded private placement will accelerate our exploration program at Baner and strengthen our overall financial position,” – Brian Hinchcliffe, Executive Chairman & CEO.