Legend International Holdings, Inc. Announces Partial Sale of Holding in Merlin Diamonds Limited
Legend International Holdings, Inc. (OTCBB:LGDI), ('Legend?), announces
that it has entered into two agreement to sell a total of 35 million
ordinary shares (approximately 19.9%) in Merlin Diamonds Limited at a
price of 22 cents per share which amounts to A$7.7 million. Closing will
occur in 10 business days. Following the closing, Legend will hold an
interest of less than 1%in Merlin Diamonds Limited.
Funds raised by the placement and from the rights issue will be used in
the development of the phosphate operations, to retire debt and for
working capital purposes.
Forward-Looking Statements
This Press Release may contain forward looking statements. Forward
looking statements are statements that describe, or that are based on,
our current expectations, estimates, projections and beliefs. Forward
looking statements are based on assumptions made by us, and on
information currently available to us. Forward-looking statements
describe our expectations today of what we believe is most likely to
occur or may be reasonably achievable in the future, but such statements
do not predict or assure any future occurrence and may turn out to be
wrong. You can identify forward-looking statements by the fact that they
do not relate strictly to historical or current facts. The words
'believe,' 'anticipate,' 'intend,' 'expect,' 'estimate,' 'project',
'predict', 'hope', 'should', 'may', and 'will', other words and
expressions that have similar meanings, and variations of such words and
expressions, among others, usually are intended to help identify
forward-looking statements.
Forward-looking statements in this press release are made pursuant to
the 'safe harbour? provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties including, without
limitation, the risks of exploration and development stage projects,
risks associated with environmental and other regulatory matters, mining
risks and competition and the volatility of mineral prices. Actual
results and timetables could vary significantly. Additional information
about these and other factors that could affect the Company′s business
is set forth in the Company′s fiscal 2011 Annual Report on Form 10-K and
other filings with the Securities and Exchange Commission.
Legend International Holdings, Inc.
Joseph Gutnick, +011 613
8532 2866
Chief Executive Officer
Fax: +011 613 8532 2805
legendinfo@axisc.com.au
or
Peter
Lee, +011 613 8532 2866
Chief Financial Officer
Fax: +011 613
8532 2805
legendinfo@axisc.com.au