Nexus Gold Corp. Announces Private Placement
Vancouver, Canada / Thenewswire / - September 17, 2015 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS) is pleased to announce that it intends to complete, a non-brokered private placement of up to 6,000,000 units ("Units") in the capital of the Company at $0.12 per Unit for total gross proceeds of up to $720,000.
Each Unit shall consist of one (1) common share (a "Share") in the capital of the Company and one share purchase warrant. Each warrant will entitle the holder to purchase one (1) additional Share (a "Warrant Share") for $0.12 for a period of twenty-four (24) months.
Completion of the offering is subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the offering will be subject to a statutory four-month hold period. It is anticipated that management and insiders of the Company will participate in the offering.
The net proceeds will be used by the Company for its 2015 drill program at the Walker Ridge Gold Project, and for general working capital purposes.
The Company also announces that it intends to grant incentive stock options ("Options") under its stock option plan to certain of its directors, officers and consultants to acquire up to an aggregate of 1,765,000 common shares of the Company. All such Options are exercisable for a period of five (5) years at a price of $0.12 per share. The grant of Options remains subject to the approval of the TSX Venture Exchange.
About the Company
Nexus Gold Corp. is a Vancouver-based mineral exploration company that develops precious metal mineral assets in the world's premier mining and exploration districts. The company is currently concentrating its exploration efforts on the Walker Ridge Gold Project, a drill-ready, multiple-target, Carlin-type gold exploration project located in the Independence/Jerritt Canyon Gold Trend, Nevada, USA.
On behalf of the Board of Directors of
Peter Berdusco
President and Chief Executive Officer
604-558-1920
www.nexusgoldcorp.com
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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