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Nexus Gold (TSXV:NXS) reported that it has closed the final tranche of its non-brokered private placement for proceeds of approximately $1.045 million. Proceeds from the financing will be used for exploration work at Nexus’s Walker Ridge project in Nevada and for general working capital.
As quoted in the press release:
Nexus Gold Corp. (“Nexus” or the “Company”) (TSXV: NXS) is pleased to announce that it has completed the final tranche of its non-brokered private placement. The placement was oversubscribed, and a total of 10,457,917 units (“Units”) were issued at $0.10 per Unit for gross proceeds of $1,045,791. Each Unit consists of one common share and one-half-of-one non-transferable warrant. Each full warrant is exercisable to purchase a further share for two years, at $0.125. No Finder’s fees were paid in connection with the closing of this final tranche. All common shares issued in connection with this financing, including common shares issued on exercise of the warrants, are subject to a statutory four month hold period.
The proceeds of the financing will be used for general working capital purposes and exploration activities on the Company’s Walker Ridge Gold Project.
The Company is also pleased to announce the addition of Dean Humphreys to the Board of Directors. Mr. Humphreys was previously CFO of Columbia Star Resources Corp., which was acquired by the Company in 2014. Mr. Humphreys holds a Bachelor of Science degree with an MBA in finance. The Company has also appointed Alex Klenman as Chairman of the board and Chief Operating Officer.
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