Legend Gold Announces Non Brokered
Private Placement for proceeds of up to $1,500,000
Legend Gold Corp. (the �Company� or �Legend
Gold�) (TSX.V: LGN) announces that it has approved a
non-brokered private placement of up to 6,000,000 common shares at a price of
$0.25 per share, for proceeds of up to $1,500,000. The Company has
commitments for the lead orders of over $1,000,000 to date. It is
expected that insiders of the Company will subscribe for up to 25% of the
placement.
Proceeds of the private placement will be used for
continued exploration and development of the Company�s gold exploration projects in Mali, and for general corporate purposes.
Completion of the private placement is subject to
receipt of all required regulatory approvals. All of the common shares to
be issued pursuant to the private placement will be subject to a four month
statutory hold period.
This news release is intended for distribution in
Canada only and is not intended for distribution to United States newswire
Services or dissemination in the United States. The securities being offered
have not, nor will they be registered under the United States Securities Act of
1933, as amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent U.S. registration or
an applicable exemption from the U.S. registration requirements. This release
does not constitute an offer for sale of securities in the United States.
About The Company
Legend Gold is
a mineral exploration and development company focused on exploring for gold in
the Republic Of Mali, West Africa. Our five main projects are the Lakanfla, Mougnina, Tiekoumala, Diokeba, and Mogoyafara
projects. In recent years, we have made significant gold discoveries on the Tiekoumala project located in Southern Mali, and the Lakanfla project located in Western Mali. Legend Gold has
65,431,324 common shares issued and outstanding (79,691,324 shares on a fully
diluted basis). Please visit our website www.legendgold.com to view project details and planned exploration
programs.