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LEGEND MINING LIMITED Capital/Financing Update 2004
65223_rns_2004-09-14_3bb51e30-27e1-4314-8d41-57586fa8748e.pdf
Capital/Financing Update
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ANNOUNCEMENT
Company Announcements Office Australian Stock Exchange Limited Level 8 Exchange Plaza 2 The Esplanade PERTH WA 6000
RE: PLACEMENT
Legend Mining Limited has agreed to place with selected sophisticated investor clients of KTM Capital Limited, 22 million fully paid ordinary shares in the Company at 7 cents per share
The funds raised (\$1,540,000) will be used for exploration and working capital.
RE: CORRECTION
In the announcement previously released by Legend Mining Limited today regarding the agreement entered into with the Mark Creasy controlled Gidgee Resources Limited, it was stated that as part of the agreement Legend will issue a convertible note (\$5,000,000) to Mr Mark Creasy convertible into ordinary shares of Legend at a price of 7 cents per share in the first twelve months and thereafter at a premium of 25% to this price or the prevailing market price if below 7 cents per share.
The conversion price for these convertible notes is actually a fixed price of 7 cents per share for the term of the convertible note.
Legend apologises for any confusion caused.
Yours faithfully
Haway Bonnel
Murray McDonald Managing Director 15 September 2004
PO Box 626 West Perth Western Australia 6872 EMAIL [email protected]
Level 5 50 Colin Street West Perth Western Australia 6005 TELEPHONE +61 8 9322 3700 FACSIMILE + 61 8 9322 3800 ABN 22-060-966-145 WWW.legendmining.com.au