NuLegacy Gold raises capital
NuLegacy Gold Corporation of Reno said last week it raised $3.5 million through a non-brokered placement of 28.25 million shares of its stock with Waterton Precious Metals Fund II Cayman LP.
The fund is managed by Waterton Global Resource Management.
NuLegacy will use the funds for general working capital and exploration of its Iceberg gold deposit on the Carlin Trend.
The agreements are designed to split the costs of improvements such as traffic signals between Carson City and developers whose projects generate the traffic increases that trigger the need for improvements.