Nexus Gold arranges $1-million private placement

Dec 5, 2019

2019-12-05 19:02 ET – News Release

Mr. Alex Klenman reports

NEXUS GOLD TO COMPLETE PRIVATE PLACEMENT FINANCING

Nexus Gold Corp. will conduct a non-brokered private placement for gross proceeds of up to $500,000 through the issuance of non-flow-through units at a price of five cents per non-flow-through unit and up to $500,000 through the issuance of flow-through units at a price of 5.5 cents per flow-through unit. Each Non-Flow-Through Unit, and each Flow-Through Unit, will consist of one common share of the Company and one common share purchase warrant entitling the holder to purchase one additional share at a price of $0.07 for a period of sixty (60) months.

Proceeds of the private placement will be used to further exploration and drilling efforts at its 100%-owned McKenzie Gold Project, located in Red Lake, Ontario, and the Dakouli 2 Gold Concession, located in Burkina Faso, West Africa.

In connection with the private placement, the Company may pay finders’ fees to eligible persons introducing subscribers to the Company. All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities law.

Closing of the private placement remains subject to final approval of the TSX Venture Exchange.

The Company also announces that it will not proceed with further tranches of its previously announced non-brokered private placement of units at a price of $0.10 per unit. The Company previously issued 4,750,000 units in connection with an initial tranche of this placement. For further information regarding this placement, readers are encouraged to review the Company’s news release of October 7, 2019.

About the Company

Nexus Gold is a Canadian-based gold development company with an extensive portfolio of nine exploration projects in West Africa and Canada. The Company’s West African-based portfolio totals over 560-sq kms (56,000+ 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 three prospective gold-copper projects (3,300-ha) 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.

https://www.nexusgoldcorp.com/