Nexus Gold closes $570,337 initial tranche of placement

Dec 1, 2020

2020-11-30 20:38 ET – News Release

Mr. Alex Klenman reports

NEXUS GOLD CLOSES INITIAL TRANCHE OF PRIVATE PLACEMENT

Nexus Gold Corp. has closed an initial tranche of a non-brokered private placement through the issuance of 10,369,764 units at a price of 5.5 cents per unit for gross proceeds of $570,337. Each unit consists of one common share of the company and one-half of one common share purchase warrant exercisable to acquire an additional common share of the company at a price of 7.5 cents until Nov. 30, 2022.

The company intends to complete a further tranche of the placement for up to 7,812,054 units, to raise a total of $1-million. The company anticipates utilizing the proceeds of the placement for follow-up exploration work at both the Dakouli 2 project in Burkina Faso, West Africa, and the McKenzie project, in Red Lake, Ont., and for general working capital purposes.

No finders’ fees or commissions were payable in connection with completion of the initial tranche of the placement, although the company may elect to pay finders’ fees to eligible parties which introduce subscribers to a further tranche of the placement. All securities issued in connection with completion of the initial tranche of the placement are subject to a statutory hold period until March 31, 2021, in accordance with applicable securities laws. Completion of further tranches of the placement remains subject to the approval of the TSX Venture Exchange.

About Nexus Gold Corp.

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of 11 projects in Canada and West Africa. The company’s West African-based portfolio totals five projects encompassing over 750 square kilometres of land located on active gold belts and proven mineralized trends while its 100-per-cent-owned Canadian projects include the McKenzie gold project in Red Lake, Ont.; the New Pilot project, located in British Columbia’s historic Bridge River mining camp; and four prospective gold and gold-copper projects (3,700 hectares) 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.

We seek Safe Harbor.

https://nxs.gold/