Nexus GOLD Receives Final Court Approval FOR the Spinout of Nexus Metals
NEXUS GOLD CORP.
Suite 802, 750 West Pender Street
Vancouver, BC, V6C 2T8
604-558-1919
NEWS RELEASE
NEXUS GOLD RECEIVES FINAL COURT APPROVAL FOR THE
SPINOUT OF NEXUS METALS
Vancouver, Canada – September 8, 2022 – Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSX-
V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased to announce that it has received court approval by way
of a final order granted by the Supreme Court of British Columbia for the completion of its
arrangement (the “Arrangement”) involving the spinout of Nexus Metals Corp. (“Nexus Metals”) and
its Canadian resource projects to shareholders.
In anticipation of completion of the Arrangement, the Company has transferred all of its rights to the
Canadian projects to Nexus Metals. A total of 45,390,465 shares of Nexus Metals will be distributed
on a pro rata basis to shareholders of the Company, pursuant to the Arrangement. Based on the
current outstanding share capital of the Company, it is anticipated that this will result in Nexus Gold
shareholders receiving approximately one Nexus Metals share for every seven shares of the company
they hold. Completion of the arrangement remains subject to approval of the TSX Venture Exchange.
The Company shall in due course determine the record date for the purpose of determining the
Nexus Gold shareholders entitled to receive Nexus Metals shares under the Arrangement. A letter of
transmittal will in due course be mailed to each Nexus Gold shareholder and be made available under
Nexus Gold's profile on SEDAR.
Further information regarding the Arrangement is available in the Company's management
information circular dated June 7, 2022, a copy of which is available under the Company’s profile on
SEDAR (www.sedar.com).
“This was an important step in moving our plan forward,” said CEO, Alex Klenman. “We’ll establish the
record date for determining the new shareholders in Nexus Metals over the next week or two, with the
intent to have that record date occur here in the month of September. Basically, the amount of shares
of Nexus Gold owned on that record date will determine the amount of shares one receives in the new
company. We ’re more than eager to get this spinout completed and move forward with two viable
exploration companies with very specific mandates. We will issue more updates as we progress,
including upcoming exploration plans,” continued Mr. Klenman.
The Company also advises it is continuing with its due diligence process in regard to the acqui sition of
one or more projects for both Nexus Metals and Nexus Gold. The C ompany is focused on adding
energy/battery metals (i.e., lithium, lopper, nickel, etc) projects to Nexus Metals, while continu ing to
focus on precious metals (gold, silver) projects in Nexus Gold. Project portfolios of Nexus Metals and
Nexus Gold will be adjusted over time to reflect the more specific focus of each company.
Nexus Hires Milad Zareian as VP, Operations
The Company is also pleased to announce that Milad Zareian has been appointed Vice President,
Operations. Mr. Zareian brings over 10 years experience working with both private and public
companies in a variety of capacities. He’s been directly inv olved with IPO, RTO and start -ups, having
led financing, IR and business development initiatives for multiple companies.
“We’re pleased to bring Milad on board,” said CEO, Alex Klenman. “He has energy, drive, and has built
an impressive global contact list, all of which will benefit Nexus Gold moving forward. The board looks
forward to working with Milad over the coming months as we complete the spinout transaction for
Nexus Metals and as we position Nexus Gold for its post-spinout plans,” continued Mr. Klenman.
About the Company
Nexus Gold is a Canadian -based gold exploration and development company with an extensive
portfolio of projects in Canada and West Africa. The Company’s primary focus is on its 100% -owned,
Dakouli 2 Gold Concession in Burkina Faso, West Africa, and the McKenzie Gold Project, located in Red
Lake, Ontario. The Company is focusing on the development of its core assets while seeking joint -
venture, earn-in, and strategic partnerships for other projects in its portfolio.
For more information, please visit 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 bec ause 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.