Nexus Gold Closes $1.25 Million Private Placement

Vancouver, Canada / TheNewswire / August 24, 2016 – Nexus Gold (TSXV: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.
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