Nexus Gold Corp. (TSXV:NXS) announced it has closed the final tranche of its previously announced non-brokered private placement.
In connection with the closing of this tranche, the company issued 3,125,000 units at a price of 12 cents per unit for gross proceeds of $375,000. When combined with the initial tranche of the private placement, the company has raised $900,000. Each unit consists of one common share of the company and one share purchase warrant entitling the holder to purchase one additional share for 12 cents for a period of 24 months. All securities issued pursuant to the offering are subject to a statutory four-month hold period. In connection with the closing of the offering, the company has paid cash finders’ fees of $2,520.
The net proceeds of the offering will be used to support the company’s continuing drill program on the Walker Ridge gold project and for general working capital purposes.