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NuLegacy nearly doubles private placement to C$5.9M

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NuLegacy nearly doubles private placement to C$5.9M

NuLegacy GoldCorp. said July 12 that it has nearly doubled the amount of unitson offer under a recently announced private placement to 19.5 million from 10 million, to accommodatedemand.

Potential proceeds from the financing will also be increasedto as much as C$5.9 million, from the initial target proceeds of up to C$3million.

Each unit, priced at 30 cents, will consist of 1 commonshare and 1 common share purchase warrant, exercisable for 1 additional commonshare for 18 months at 45 cents apiece.

Proceeds from the financing will be used to fund thecompany's gold exploration programs and for general corporate purposes.

The financing is expected to close on or about July 13.