Nexus Gold Raises $1.045 Million in Oversubscribed Private Placement
NEXUS GOLD CORP.
Suite 720 – 700 West Pender Street Vancouver, BC V6C 1G8 Telephone: 604.558.1920
NEWS RELEASE
NEXUS GOLD RAISES $1.045 MILLION IN OVERSUBSCRIBED PRIVATE PLACEMENT
Vancouver, Canada - March 12, 2015 - Nexus Gold Corp. (“Nexus” or the “Company”) (TSX- V: NXS) is pleased to announce that it has completed the final tranche of its non-brokered private placement. The placement was oversubscribed, and a total of 10,457,917 units ("Units") were issued at $0.10 per Unit for gross proceeds of $1,045,791.
Each Unit consists of one common share and one-half-of-one non-transferable warrant. Each full warrant is exercisable to purchase a further share for two years, at $0.125. No Finder's fees were paid in connection with the closing of this final tranche. All common shares issued in connection with this financing, including common shares issued on exercise of the warrants, are subject to a statutory four month hold period.
The proceeds of the financing will be used for general working capital purposes and exploration activities on the Company's Walker Ridge Gold Project.
The Company is also pleased to announce the addition of Dean Humphreys to the Board of Directors. Mr. Humphreys was previously CFO of Columbia Star Resources Corp., which was acquired by the Company in 2014. Mr. Humphreys holds a Bachelor of Science degree with an MBA in finance. The Company has also appointed Alex Klenman as Chairman of the board and Chief Operating Officer.
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
For further information, please contact:
Rob Gamley Contact Financial Corp.
Phone: 1-604-689-7422 E-mail: [email protected]
Neither TSX Venture Exchange nor its Regulations 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.