NuLegacy Closes Third and Final Tranche of the Current PP

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RENO, Nev., Nov. 27, 2023 (GLOBE NEWSWIRE) -- NuLegacy announces that it has today closed the third and final tranche of its previously announced non-brokered private placement of 100,000,000 units (“Units”) at a price of C$0.025 per Unit (the “Offering”). The Company sold an additional 7,057,500 Units for gross proceeds of C$176,438 bringing the total offering to 47,721,500 Units for aggregate gross proceeds of C$1,193,038. Due to the current trading price of the Company’s shares being in excess of C$0.025 (the offering price of the Units), pursuant to exchange policy the TSX Venture Exchange would not accept the Company’s request for a further extension to complete the balance of the Offering at a price of $0.025 per Unit. Market conditions permitting, the Company may offer additional Units at the current pricing between now and December 11, 2023 prior to receipt of initial assay results from the Company’s current drill program.

Finder’s fees totaling C$9,275 cash and 371,000 non-transferable share purchase warrants to purchase up to 371,000 common shares at a price of C$0.05 per share for a period, subject to acceleration, of five years were paid to certain registered dealers in connection with the third closing. All securities issued under the third closing are subject to a four month hold period expiring March 28, 2024.

About NuLegacy Gold: NuLegacy Gold is exploring for high-grade Carlin-style gold deposits on its superbly located 108 sq. km (42 sq. mile) district scale Red Hill property. Red Hill is on trend/adjacent^I to three of Nevada Gold Mines’ most profitable multi-million ounce Carlin-type gold mines; the Pipeline, Cortez and Goldrush^II with their massive 50+ million ounces gold endowment. These are three of the thirty largest, lowest cost, highest grade, and politically safest gold mines, producing circa 3% of the world’s gold. Each of NuLegacy’s seven principals/exploration team members has contributed to the discovery/expansion of one or more of Nevada’s seven massive Carlin-style gold deposits.