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The Company has agreed to issue 40 million shares of common shares at a price of US$2.50 per share for gross proceeds of US$100 million.
The net proceeds of the financing will be used to advance the ongoing development of the Company’s phosphate projects in the Georgina Basin in the Mt Isa region of Queensland.
The Company has agreed to prepare and file with the Securities and Exchange Commission a registration statement covering the 40 million shares of common shares.
About Legend International Holdings Inc
Legend International Holdings, Inc (OTCBB: LGDI) is a mining and agriculture resource development company. The Company is principally focussed on developing its phosphate deposits in the Georgina Basin in Queensland, Australia. The Company’s exploration licences include approximately 5.2 million acres in Queensland and the Northern Territory, Australia For further information please visit our website at www.lgdi.net.
About Agoracom
For all Legend International Holding Inc investor relations needs, investors are asked to visit the Legend IR Hub at http://www.agoracom.com/IR/legendint... where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LGDI@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
For further information, please contact:
| Mr. Joseph Gutnick | General Manager Business |
| Chief Executive Officer | New York Office |
| Legend International Holdings Inc | Legend International Holdings Inc |
| Tel: +011 613 8532 2866 | Tel: (212) 223 0018 |
| Fax: +011 613 8532 2805 | Fax: (212) 223 1169 |
| E-mail: josephg@axisc.com.au | E-mail: legendinfo@axisc.com.au |
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 2007 Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
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