Nexus Gold Corp. (“Nexus” or the “Company”) (TSXV:NXS, OTC:NXXGF, FSE:N6E) is pleased to announce that it intends to conduct a non-brokered private placement of up to 20,000,000 units (each, a “Unit”), at a price of $0.15 per Unit, for gross proceeds of up to $3,000,000.
Nexus Gold Corp. (“Nexus” or the “Company”) (TSXV:NXS, OTC:NXXGF, FSE:N6E) is pleased to announce that it intends to conduct a non-brokered private placement of up to 20,000,000 units (each, a “Unit”), at a price of $0.15 per Unit, for gross proceeds of up to $3,000,000. Each Unit will consist of one common share of the Company, and one-half-of-one common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant will be exercisable to acquire one additional common share of the Company at a price of $0.25 per share for a period of twelve months from the date of issue.
The net proceeds will be used by the Company to conduct further ground follow up and drilling at its Bouboulou, Rakounga and Niangouela gold concessions in Burkina Faso, West Africa, and for general working capital purposes. In connection with the private placement, the Company may pay finder’s fees to eligible persons introducing subscribers to the Company. All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period. Closing of the private placement remains subject to final approval of the TSX Venture Exchange.
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.
Alex Klenman Chairman & COO
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.