MELBOURNE, Australia--(BUSINESS WIRE)--Legend International Holdings, Inc.(OTCBB:LGDI), (“Legend”), announces that it has placed 150 million shares of Common Stock at a price of 5 cents per share raising $7.5 million.

Further, following the placement of shares, the Company intends to undertake a rights issue of shares of Common Stock on a pro-rata basis, to all stockholders, at 5 cents per share.

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.

FIVE CENTS A SHARE..WOW...What idiot would give Gutnick $7.5 million?

That should last these scammers a few months. They just diluted the company huge!!!

Guess we will have to wait for the filings to see who the new sucker is.

Worst run company on the planet. All they do is milk it like a cow to live on. Pay themselves huge salaries and put all of their expenses through the company.What a JOKE!!!