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Legacy Gold Mines Ltd ( (TSE:LEGY) ) just unveiled an announcement.
Legacy Gold Mines has again expanded the size of its non-brokered private placement, now targeting up to 33,333,333 common shares at C$0.30 each for potential gross proceeds of C$10 million. The financing remains subject to TSX Venture Exchange approval, and any securities issued will carry a four-month hold period under applicable securities laws.
Proceeds are earmarked primarily to fund drilling and project development at the company’s Baner Gold Mine property in Idaho, as well as business development and general corporate purposes. The larger raise underscores Legacy Gold’s push to advance its flagship U.S. asset, a move that could accelerate exploration milestones and potentially strengthen its position in the junior gold sector if operational progress follows.
More about Legacy Gold Mines Ltd
Legacy Gold Mines Ltd. is a Canadian-based gold exploration and development company listed on the TSX Venture Exchange under the symbol LEGY. The company holds an option to acquire a 100% interest in the Baner Gold Mine property in Idaho County, Idaho, focusing on advancing this U.S. gold project through exploration and development activities.
Average Trading Volume: 28,391
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$6.74M
For an in-depth examination of LEGY stock, go to TipRanks’ Overview page.