TORONTO, ONTARIO--(Marketwire - Oct. 1, 2012) - Legend Gold Corp. (the "Company" or "Legend Gold") (LGN.V) announces that it has entered into an agreement with Scott Waldie, a director and former officer of the Company, pursuant to which the Company will issue 325,000 common shares in satisfaction of indebtedness of $32,500 currently owed to Mr. Waldie, based on an agreed issue price of $0.10 per share. The Company determined to satisfy the indebtedness with shares in order to preserve its cash for operations.
The share issuance is conditional upon acceptance by the TSX Venture Exchange. The common shares issued in satisfaction of the indebtedness will be subject to a four month statutory hold period from the date of issuance.
Following completion of the share issuance, Legend Gold will have a total of 80,756,324 common shares issued and outstanding.
About The Company
Legend Gold is a mineral exploration and development company focused on exploring for gold in the Republic Of Mali, West Africa. Our five main projects are the Lakanfla, Mougnina, Tiekoumala, Diokeba, and Mogoyafara projects. In recent years, we have made significant gold discoveries on the Tiekoumala project located in Southern Mali, and the Lakanfla project located in Western Mali. Please visit our website www.legendgold.com to view project details and planned exploration programs.
This press release has been prepared by Legend Gold Corp.
This news release may contain forward-looking statements that are based Legend Gold Corp.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.