Legend International Holdings, Inc. Announces Repayment of Convertible Note
Legend International Holdings, Inc. (OTCBB:LGDI), ('Legend'), is pleased
to announce its 100% owned subsidiary, Paradise Phosphate Limited
('Paradise'), has fully repaid the convertible note that it previously
issued to two Australian financial institutions managed by Acorn Capital
Limited ('the Lenders'). The detail of the convertible note purchase
agreement (the 'Convertible Note Agreement') was first announced on
February 13, 2012 (see Legend's website www.lgdi.net).
Pursuant to the terms of Convertible Note Agreement all loaned monies
have now been fully repaid and all mortgages and securities over
Legend's shares in Paradise and Paradise's phosphate assets have been
released by the Lenders.
Legend also advises that in accordance with its press release dated
January 16, 2013 where it announced the placement of 150 million shares
at a price of 5 cents, it has closed part of the placement of 97.5
million shares at a price of 5 cents raising USD$4,875,000. The Company
anticipates closing the balance of the placement shortly.
Paradise continues to focus on advancing the Paradise phosphate project.
The Company is also progressing discussions with potential strategic
partners regarding the optimal investment structure and future
development plan for the project.
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 2012 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
or
Peter
Lee, +011 613 8532 2866
Chief Financial Officer
Fax: +011 613
8532 2805
