Nexus Gold Closes Additional Tranche of Private Placement
NEXUS GOLD CORP.
Suite 802, 750 West Pender Street Vancouver, BC, V6C 2T8 604-558-1919
NEWS RELEASE
NEXUS GOLD CLOSES ADDITIONAL TRANCHE OF PRIVATE PLACEMENT
Vancouver, British Columbia – July 17, 2020 – Nexus Gold Corp. (the “Company”) (TSX-V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased to announce that it has closed the final tranche of its flow-through private placement through the issuance of 460,000 units (each, a “Unit”) at a price of $0.055 per Unit for further proceeds of $25,300. Each Unit is comprised of one common share of the Company, and one common share purchase warrant (each, a “Warrant”). Each Warrant is exercisable to acquire an additional common share of the Company at a price of $0.07 until July 14, 2023.
The Company anticipates utilizing the proceeds of the placement for further exploration work at its McKenzie Gold Project, located in Red Lake, Ontario, and its GB Gold-Copper Project, located in Newfoundland, Canada, and for general working capital purposes.
No finders’ fees or commissions are payable in connection with completion of the final tranche of the placement. All securities issued in the final tranche are subject to a statutory hold period, expiring on November 15, 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.