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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (8601)	8/20/2014 5:57:32 PM
From: Goose94	Read Replies (1) \| Respond to of 202925

NuLegacy Gold (NUG-V) Aug 20, '14 has closed the $3.5-million financing announced Aug. 18, 2014, with the issue of 28.25 million shares at a price of 12.5 cents per share to Waterton Precious Metals Fund II Cayman LP. Waterton Global Resource Management Inc., investment adviser to Waterton, is a private equity firm based in Toronto specializing in the metals and mining sector. It has a proven record of creating and building value by combining extensive technical expertise with a disciplined approach to investment management. Waterton closed capital commitments in excess of $1-billion (U.S.) in March of this year. Waterton's very capable technical people are familiar with Carlin-type geology, which provides NuLegacy Gold with access to additional geological talent to augment its highly successful Carlin-type deposit exploration team. "This financing is an important milestone for NuLegacy Gold's, says NuLegacy's chief executive officer, James Anderson, "It strengthens our balance sheet and enrolls a substantial mining industry savvy partner for our Nevada opportunities." The proceeds of this financing will be used for exploration on the company's Iceberg gold deposit in Nevada, general working capital and other corporate purposes. The 28.25 million shares issued for consideration of $3,531,250 represent 19.9 per cent of the outstanding shares and are subject to a four-month hold period ending Dec. 20, 2014. No finders' fees or warrants have been issued in respect of this financing. Waterton has the right to nominate one director to the company's board, participate pro rata in all future issuances of shares or convertible securities of the company and a first right to purchase any shares of the company offered to it by third parties. Waterton has agreed to provide the company a three-year voting trust agreement over its shares. NuLegacy Gold has discovered a classic Carlin-type oxidized gold deposit (the Iceberg) with a potential exploration target of 90 million to 110 million tonnes grading between 0.70 gram and 1.0 gram per tonne gold in the famed Cortez gold-trend of Nevada. The Iceberg is on a 60 sq. km portion of the Cortez optioned from Barrick Gold Corporation, and on trend with Barrick's three multimillion-ounce Carlin-type deposits that are its largest, lowest-cost and politically safest gold mines in the world. The Iceberg is adjacent to the third of these, the Goldrush deposit, which is the most significant greenfield discovery by a major gold producer in the past five years. NuLegacy's fully financed 2014-2015 exploration programs are designed to complete the earn-in to a 70-per-cent working interest in the Iceberg; they are focused on finding the higher-grade cores usually associated with the Cortez's Carlin-type gold deposits that make them such extraordinary prizes.