Nexus Gold Closes $821,000 First Tranche Private Placement
NEXUS GOLD CORP.
Suite 720 – 700 West Pender Street Vancouver, BC V6C 1G8 Telephone: 604.558.1920
NEWS RELEASE
NEXUS GOLD CLOSES $821,000 FIRST TRANCHE PRIVATE PLACEMENT
Vancouver, Canada – January 16, 2015 – Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS) is pleased to announce that it has closed the first tranche of the previously announced (January 14, 2015) non-brokered private placement. The Company has issued 8,210,000 units (the “Units”) at $0.10 per Unit for aggregate proceeds of $821,000.
Each Unit shall consist of one (1) common share (a “Share”) in the capital of the Company and one half share purchase warrant. Each full warrant will entitle the holder to purchase one (1) additional share (a “Warrant Share”) for $0.125 at any time prior to 4:30 p.m. (Vancouver time) on the date which is twenty four months from the closing date, at which time the warrants will expire.
All securities issued pursuant to the offering will be subject to a statutory four-month hold period. The net proceeds will be used by the Company for financing its 2015 drill program at the Walker Ridge Gold Project, and for general working capital purposes.
In connection with this financing, finder's fees totalling $27,000 in cash and 135,000 warrants were paid to certain individuals. Each finder's warrant entitles the finder to purchase one common share of the company on the same terms as the warrants.
About the Company
Nexus Gold Corp. is a Vancouver-based mineral exploration company that develops precious metal mineral assets in the world’s premier mining and exploration districts. The company is currently concentrating its exploration efforts on the Walker Ridge Gold Project, a drill-ready, multiple-target, Carlin-type gold exploration project located in the Independence/Jerritt Canyon Gold Trend, Nevada, USA.
On behalf of the Board of Directors of NEXUS GOLD CORP.
Peter Berdusco President and Chief Executive Officer 604-558-1920 www.nexusgoldcorp.com
Neither 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.
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