Legacy Minerals fundraising initiative

Legacy Minerals (ASX:LGM) has released a prospectus aiming to raise $1,000,000 through a Share Purchase Plan (SPP) Offer. This is part of a capital raising strategy totaling $3,000,000, including a $2,000,000 placement. The funds will support exploration projects in New South Wales.

Legacy Minerals' strategic outlook

Legacy Minerals is actively raising capital to enhance its exploration efforts in New South Wales, focusing on gold, silver, copper, and base metals. The Share Purchase Plan allows shareholders to invest up to $30,000 in shares, supplemented by a $2,000,000 placement to sophisticated investors. The funds will primarily support exploration at the Thomson and Drake projects, alongside covering offer costs and providing working capital. The company is also preparing for a General Meeting to seek shareholder approval for new resolutions. Legacy Minerals is focused on advancing its projects while managing exploration risks and leveraging its management team's expertise.

Executive insights from Legacy Minerals

The funds raised through the SPP and placement will enable us to accelerate our exploration activities at key projects like Thomson and Drake. We remain committed to creating value for our shareholders through strategic exploration and discovery,' said the company representative.