NuLegacy Gold Corp (TSX-V:NUG) CEO Albert Matter has sold 10 million of his existing free-trading shares, raising $50,000 to facilitate additional investment in the company's ongoing private placement.
The move follows the August 15th announcement of NuLegacy’s private placement of 100 million units at a price of C$0.01 per unit, aimed at raising C$1 million in gross proceeds.
Matter, who initially committed to purchasing 10 million units, has increased his participation to 15 million units, investing a total of C$150,000. The proceeds from his share sale will be used to fund this additional subscription under the offering.
NuLegacy Gold is exploring for a high-grade Carlin-style gold deposit on its 108 square kilometer Red Hill Property in Nevada's Cortez gold trend, located near three of the world's largest and most profitable Carlin-type gold deposits.