Nexus Announces Additional Upsize of Previously Announced Financing
Nexus Announces Additional Upsize of
Previously Announced Financing
Vancouver, British Columbia--(Newsfile Corp. - December 9, 2024) - Nexus Uranium Corp. (CSE:
NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "
Company
" or "
Nexus
") is pleased to announce it has
increased its previously announced non-brokered private placement from up to 6,666,666 units of the
Company ("
FT Units
") to up to 7,000,000 FT Units. The FT Units will be issued at price of $0.30 per FT
Unit to raise gross proceeds of up to $2,100,000 (the "
Offering
").
Each FT Unit consists of one common share of the Company (a "
FT Share
") to be issued as a "flow-
through share" within the meaning of within the meaning of the
Income Tax Act
(Canada) (the "
Tax Act
")
and one common share purchase warrant (a "
Warrant
") each of which is exercisable to acquire one
common share for 18 months following closing at an exercise price of $0.40.
Proceeds from the Offering will be used to incur "Canadian exploration expenses" as defined in
subsection 66.1(6) of the Tax Act and "flow through critical mineral mining expenditures" as defined in
subsection 127(9) of the Tax Act at the Cree East uranium project located in the Athabasca Basin.
The Company may pay finders' fees and issue finders' warrants (having the same terms as the
Warrants) on all or a portion of the Offering.
Completion of the Offering is subject to certain conditions including the receipt of all necessary
approvals, including the approval of the Canadian Securities Exchange.
About Nexus Uranium Corp.
Nexus Uranium Corp. is a multi-commodity development company focused on advancing the Cree East
uranium project in the Athabasca Basin in addition to its precious metals portfolio that includes the
Napoleon gold project in British Columbia and a package of gold claims in the Yukon. The Cree East
project is one of the largest projects within the Athabasca Basin of Saskatchewan spanning 57,752
hectares (142,708 acres) and has seen over $20 million in exploration to date. The Napoleon project
comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with
exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold
projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold
mineralization with historical grab sampling highlights of 144 g/t gold.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend",
"expect", "plan", "predict", "may" or "should" and the negative of these words or such variations
thereon or comparable terminology are intended to identify forward-looking statements and
information. Although Nexus believes, in light of the experience of their respective officers and
directors, current conditions and expected future developments and other factors that have been
considered appropriate, that the expectations reflected in the forward-looking statements and
information in this press release are reasonable, undue reliance should not be placed on them
because the parties can give no assurance that such statements will prove to be correct. The forward-
looking statements and information in this press release include, amongst others, the Company's
ability to complete the Offering on the terms announced. Such statements and information reflect the
current view of Nexus. Such statements and information reflect the current view of Nexus. There are
risks and uncertainties that may cause actual results to differ materially from those contemplated in
those forward-looking statements and information.
Forward-looking statements are based on certain material assumptions and analysis made by the
Company and the opinions and estimates of management as of the date of this news release,
including, but not limited to the assumption that the CSE will approve the Offering and the assumption
that Company will be able to locate purchasers for the Offering.
These forward-looking statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such forward-looking
statements or forward-looking information, including, but not limited to: the risk that the CSE will not
approve the Offering, the risk that the Company will not be able to locate suitable purchasers for the
Offering, and inherent risks associated with the mining industry and the results of exploration activities
and development of mineral properties, stock market volatility and capital market fluctuations, general
market and industry conditions, as well as those risk factors discussed in the Company's most
recently filed management's discussion & analysis.
Although management of the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements and forward-looking
information. Readers are cautioned that reliance on such information may not be appropriate for other
purposes. The Company does not undertake to update any forward-looking statement, forward-looking
information or financial outlook that are incorporated by reference herein, except in accordance with
applicable securities laws.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
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https://www.newsfilecorp.com/release/233131