Nexus Gold Arranges $720,000 Private Placement

Nexus Gold Corp. (TSXV:NXS) announced that it intends to complete a non-brokered private placement of up to six million units in the capital of the company at 12 cents per unit for total gross proceeds of up to $720,000.
As quoted in the press release:

Each unit shall consist of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder to purchase one additional share for 12 cents for a period of 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 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 years at a price of 12 cents per share. The grant of options remains subject to the approval of the TSX Venture Exchange.

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