Nexus Gold Completes Additional Private Placement Financing
NEXUS GOLD CORP.
Suite 802, 750 West Pender Street Vancouver, BC, V6C 2T8 604-558-1919
NEWS RELEASE
NEXUS GOLD COMPLETES ADDITIONAL PRIVATE PLACEMENT FINANCING
Vancouver, Canada – June 2, 2020 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased to announce that it has completed an offering of 14,250,000 units (each, a “Unit”) by way of non-brokered private placement at a price of $0.05 per unit for gross proceeds of $712,500. Each Unit consists of one common share of the Company and one common share purchase warrant (each, a “Warrant”) exercisable to acquire an additional share at a price of $0.07 until June 3, 2023.
The Company anticipates utilizing the proceeds of the placement for continuing exploration efforts at the McKenzie Gold Project in Red Lake, Ontario, and for general working capital purposes.
In connection with the completion of the placement, the Company issued 416,000 Warrants and paid $20,800 to an arms-length brokerage firm that assisted in introducing subscribers to the Company. All securities issued in connection with the placement are subject to a statutory hold expiring on October 4, 2020, in accordance with applicable securities laws.
About the Company
Nexus Gold is a Canadian-based gold development company with an extensive portfolio of eleven exploration projects in West Africa and Canada. The Company’s West African-based portfolio totals five projects encompassing over 750-sq kms (75,000+ hectares) of land located on active gold belts and proven mineralized trends, while it’s 100%-owned Canadian projects include the McKenzie Gold Project in Red Lake, Ontario, the New Pilot Project, located in British Columbia's historic Bridge River Mining Camp, and four additional prospective gold-copper projects in the Province of Newfoundland. The Company is focusing on the development of several core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its growing portfolio.
For more information please visit nexus.gold.
For more information please visit www.nexusgoldcorp.com.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Alex Klenman President & CEO 604-558-1920 [email protected] www.nexusgoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.