Legend
Gold Closes Non-Brokered Private Placement for Proceeds of $1 Million
Legend Gold Corp.
(the �Company� or �Legend Gold�) (TSX.V:
LGN)is pleased to announce the closing of its non-brokered private placement
announced on November 23, 2011 and re-priced December 21, 2011. The Company completed the sale of 5,000,000 common shares at a
price of $0.20 per share, for total proceeds of $1,000,000.
Insiders of the
Company subscribed for 44% (2,175,000 common shares) of the placement. No
finders� fees were paid in connection with the placement.
All of the common
shares issued pursuant to the financing are subject to a four month statutory
hold period from closing which expires on May 7, 2012.
Following completion
of the placement, Legend Gold
has a total of 70,431,324 common shares issued and outstanding.
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.
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, Kata, 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 70,431,324 common shares
issued and outstanding (84,691,324 shares on a fully diluted basis).
Please visit our website www.legendgold.com to view
project details and planned exploration programs.