Nexus Gold Announces Warrant Extension and Repricing
Nexus Gold Announces Warrant Extension and
Repricing
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2021) -
Nexus Gold Corp.
(TSXV: NXS)
(OTCQB: NXXGF) (FSE: N6E) ("
Nexus
" or the "
Company
") is pleased to announce that it has
extended the expiry and reduced the exercise price (the "
Amendment
") to the terms of an aggregate of
12,532,477 warrants (each, a "
Warrant
") issued by the Company.
More particularly, the Company has amended the terms of 8,649,913 warrants set to expire on February
26, 2021. Of this series, all are held by non-insiders and exercisable at $0.18 (the "
February
Warrants
"). The date of expiration of the February Warrants has been extended to February 26, 2022
and the exercise price has been reduced to $0.10 per Warrant. Further, the Company has amended the
terms of 2,867,565 warrants held by non-insiders set to expire on March 19, 2021 and exercisable at
$0.18 and 1,014,999 warrants held by non-insiders set to expire on March 19, 2021 and exercisable at
$0.20 (the "
March Warrants
"). The date of expiration of the March Warrants has been extended to
March 19, 2022 and the exercise price has been reduced to $0.10 per Warrant. The February Warrants
and March Warrants collectively, the "
Warrants
".
In accordance with TSX Venture Exchange regulations, the expiration of the Warrants will be accelerated
to 30 days if the share price reaches or exceeds $0.125 for ten consecutive days (the "
Acceleration
Trigger
"), with such 30-day period starting 7 days after the Acceleration Trigger. All other terms of the
Warrants will remain unchanged.
About the Company
Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio
of eleven projects in Canada and West Africa. The Company's West African-based portfolio totals five
projects encompassing over 750 sq kms 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
prospective gold and gold-copper projects (3,7000-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.
For more information, please visit
www.nxs.gold
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Alex Klenman
President & CEO
604-558-1920
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's discussion and analysis section of
our interim and most recent annual financial statements 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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES NOR FOR
DISSEMINATION IN THE UNITED STATES
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https://www.newsfilecorp.com/release/75603