Legacy Iron Ore Entitlement Offer Completion

Legacy Iron Ore Limited (ASX: $LCY) has successfully closed its entitlement offer, raising approximately A$19.60 million. The funds raised will be utilized for ongoing exploration and working capital. The offer, which closed on 27 February 2024, received valid applications from eligible shareholders and invited investors, resulting in the issuance of 1,306,722,063 new fully paid ordinary shares.

Executive Commentary on Entitlement Offer Results

The completion of the entitlement offer marks an important milestone for Legacy Iron Ore. We are pleased with the response from our shareholders and invited investors, which reflects their confidence in the Company's future prospects. The funds raised will enable us to continue our exploration activities and bolster our working capital, positioning us for sustained growth and development. We extend our gratitude to all shareholders for their participation and ongoing support, and express our appreciation to NMDC Limited for their full entitlement uptake.

Summary of Entitlement Offer Outcome and Outlook

Legacy Iron Ore Limited has successfully concluded its entitlement offer, raising approximately A$19.60 million, which will be directed towards ongoing exploration, working capital, and offer costs. The Company's ability to attract funding for its activities underscores investor confidence in its strategic direction and resource potential. With the completion of this offer, Legacy Iron Ore is well-positioned to pursue its exploration and development initiatives, driving value for its shareholders and advancing its mission of increasing shareholder wealth through profitable mining asset operations.