Nexus Gold Completes Second Tranche of Private Placement
Tickers: OTC:NXXGF, TSX:NXS, FRAA:N6E
Vancouver, Canada / TheNewswire / October 27, 2017 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce that it has completed a second tranche of its private placement through the issuance of 4,871,000 units at a price of $0.075 for gross proceeds of $365,325. Each "unit" consists of one common share and one-half-of-one common share purchase warrant exercisable to acquire an additional common share at a price of $0.12 for a period of twenty-four months. In connection with completion of this tranche, the Company paid cash finders' fees of $13,809 and issued 217,620 warrants exercisable on the same terms as the unit warrants.
When combined with the initial tranche of the placement, the Company has now raised a total of $765,313. The Company anticipates completing additional tranches of the placement, and will provide further information as soon as it becomes available. Completion of additional tranches remains subject to the approval of the TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period.
About the Company
Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world's premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold project consists of the 38-sq km Bouboulou claims and the adjacent 250-sq km Rakounga gold concession. The Niangouela gold concession is a 178-sq km project featuring high-grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. 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.
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