Vancouver, British Columbia--(Newsfile Corp. - September 11, 2017) - I have acquired ownership of 5,543,368 common shares (representing 40.50% of the outstanding shares) and warrants to purchase an additional 250,000 common shares of Legend Gold Corp. (TSXV: LGN) of Vancouver, BC.The common shares were acquired pursuant to Legend's private placement at a price of $0.20 per unit (each unit consisting of one common share and one-half of one warrant to purchase a further common share), and debt settlement through the issuance of common shares at a price of $0.25 per share.
Immediately prior to the acquisition, I had ownership of 446,598 common shares (representing 8.55% of Legend's outstanding common shares), warrants to purchase an additional 12,898 common shares and options to purchase an additional 25,000 common shares. If the warrants and options were exercised, I would have had ownership of 484,796 common shares (representing 9.21% of the outstanding shares) of Legend.
I now have ownership of 5,989,966 common shares (representing 43.76% of Legend's outstanding common shares), warrants to purchase an additional 262,898 common shares, and stock options to purchase an additional 25,000 common shares. If the warrants and stock options were exercised, I would have ownership of 6,277,864 common shares (representing 44.92% of the outstanding shares) of Legend.
The shares and warrants were acquired today under the exemptions set out in section 2.3 [Accredited Investors] and section 2.14 [Securities for Debt] of National Instrument 45-106 Prospectus Exemptions of the Canadian Securities Administrators. Presently, I do not have any intention of acquiring any further securities of Legend but may acquire ownership of or control over further securities in the future depending upon market circumstances.
I have filed an Early Warning Report with the British Columbia, Alberta and Ontario Securities Commissions in respect of the acquisition. Copies of the Report may be obtained from SEDAR (www.sedar.com) or without charge from Legend or me.
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MICHAEL D. WINN
Phone: (949) 376-6451