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Legendary Invest PLC (LEG)

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Friday 15 July, 2011

Legendary Invest PLC

Investment in MedGold Resource Ltd

RNS Number : 4848K
Legendary Investments PLC
15 July 2011
 



15 July 2011

 

Legendary Investments Plc

 

Investment in MedGold Resource Ltd ("MedGold")

 

Legendary Investments Plc ("Legendary") is pleased to announce that it has secured a participation in a first round financing for MedGold.

 

MedGold is a new company focused on the discovery and development of gold and precious metal deposits and is targeting deposits with a discovery target of greater than 1million ounces to attract major development partners.

 

This first round of funding is being utilised to implement MedGold's strategy which is centred on creating a significant resource business focussed on the discovery and development of gold +/- silver deposits with a 1 million ounce discovery target in Europe, initially in Spain, Italy and France.

 

The Board and management team of MedGold has a successful track record in developing and listing resource companies and establishing major company JVs.  The company has assembled regional Spanish and French geological databases, identified a number of advanced projects, and has licenses under application in Italy.

 

MedGold will shortly launch its website at www.medgoldresources.com that will provide further information on the company strategy, personnel and projects.

 

MedGold plans an IPO in due course and Legendary has invested £50,000 for approximately 3% of the issued share capital of MedGold as enlarged by the fundraising.

 

Contact:



Legendary Investments Plc

Rajesh Rai / Thomas Reuner

020 8201 3536

 

Northland Capital

Partners Limited

(Nominated Adviser)

 

Gavin Burnell / Rod Venables

 

020 7796 8800

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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