Nexus Gold Closes $1.25 Million Private Placement
Tickers: US OTC: NXXGF, TSX.V: NXS, FSE: N6E
Tags: Mining, Gold, Precious Metals, Exploration
Vancouver, Canada – August 24, 2016 – Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS) is pleased to announce that it has completed a non-brokered private placement of 25,100,000 units (each, a "Unit") in the capital of the Company at a price of $0.05 per Unit for gross proceeds of $1,255,000.
Each Unit consists of one (1) common share in the capital of the Company and one-half-of-one common share purchase warrant (each full warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one (1) additional share at a price of $0.075 for a period of twenty-four (24) months.
“With a well-received private placement consisting of many sophisticated investors, our treasury is now strong. Our focus moving forward will be accelerating and expanding a fully-funded phase one work program at Bouboulou and executing its objectives”, commented Peter Berdusco, President and Chief Executive Officer of the Company.
In connection with completion of the offering, the Company has paid $20,240 and issued 967,000 common shares and 638,300 Warrants to certain finders’ who introduced subscribers to the offering. All securities issued pursuant to the offering will be subject to a statutory four-month hold period.
About the Company
Nexus Gold Corp. is a Vancouver-based mineral resource company that develops precious metal mineral assets in the world’s premier mining districts. The Company is currently concentrating its efforts on the Bouboulou Gold Concession, an advanced exploration project located in Burkina Faso, West Africa and the Walker Ridge Gold Project, a drill-ready, multiple-target, Carlin-type gold project located in the Independence/Jerritt Canyon Gold Trend, Nevada, USA. For more information on these projects, please visit the company website at www.nexusgoldcorp.com.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
President and Chief Executive Officer
Neither 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.