nexus

Nexus Gold Closes Initial Tranche of Private Placement

(TheNewswire)



Nexus Gold Corp. (" Nexus " or the " Company ") (TSXV:NXS ) ( OTC:NXXGF ) ( FSE:N6E) the " Company ") is pleased to announce that it has closed an initial tranche of a non-brokered private placement through the issuance of 10,369,764 units (each, a " Unit ") at a price of $0.055 per Unit for gross proceeds of $570,337. Each "Unit" consists of one common share of the Company, and one-half-of-one common share purchase warrant exercisable to acquire an additional common share of the Company at a price of $0.075 until November 30, 2022

The Company intends to complete a further tranche of the placement for up to 7,812,054 units, to raise a total of $1,000,000. The Company anticipates utilizing the proceeds of the placement for follow up exploration work at both the Dakouli 2 project in Burkina Faso, West Africa, and the McKenzie project, in Red Lake, Ontario, and for general working capital purposes.

No finders' fees or commissions were payable in connection with completion of the initial tranche of the placement, although the Company may elect to pay finders' fees to eligible parties who introduce subscribers to a further tranche of the placement. All securities issued in connection with completion of the initial tranche of the placement are subject to a statutory hold period until March 31, 2021, in accordance with applicable securities laws. Completion of further tranches of the placement remains subject to the approval of the TSX Venture Exchange.

About the Company

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of eleven projects in Canada and West Africa. The Company's West African-based portfolio totals five projects encompassing over 750-sq kms of land located on active gold belts and proven mineralized trends, while it's 100%-owned Canadian projects include the McKenzie Gold Project in Red Lake, Ontario; the New Pilot Project, located in British Columbia's historic Bridge River Mining Camp; and four prospective gold and gold-copper projects (3,700-ha) in the Province of Newfoundland. The Company is focusing on the development of several core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its growing portfolio.

For more information please visit nexus.gold

On behalf of the Board of Directors of

Nexus Gold CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Neither the 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.

Copyright (c) 2020 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
R3D Resources

$1.5 Million in Firm Commitments Received for Capital Raisings

$0.5 million partial underwrite of the Rights Issue & $1.0 million in further debt or equity to be raised by end April 2024

R3D Resources Limited (ASX: R3D) (the Company) (renamed Tartana Minerals Limited) is pleased to provide an update on the 1 for 5 pro rata entitlement offer of New Shares in the Company at an issue price of $0.05 per New Share, as well as 1 attaching Option exercisable at $0.10 expiring 31 December 2025 for each 2 New Shares subscribed for (the Rights Issue) which opened in November 2023.

Keep reading...Show less
Brightstar Resources

Successful Completion of A$12 Million Share Placement

Brightstar Resources Limited (Brightstar or the Company) (ASX: BTR) is pleased to report that it has received firm commitments for a placement of new fully paid ordinary shares in the Company (Shares) at A$0.014 per Share to raise A$12 million (before costs) (Placement).

Keep reading...Show less
Peter Schloo, president and CEO of Heritage Mining.

Heritage Mining Gears up for 2024 Exploration at Drayton-Black Lake Project

Heritage Mining (CSE:HML) is gearing up for more drilling in 2024 following a successful drill program in 2023, the results of which confirmed the presence of multiple high-grade instances of gold and silver mineralization.

“We're advancing, and we were probably the most active in 2023 from an exploration perspective,” said Peter Schloo, president and CEO of Heritage Mining. “So we have a lot of news to come and, you know, the stocks are looking really good.”

The company will be conducting ground induced polarization drilling to further define the deposit potential at the Alcona and New Millennium targets within its flagship Drayton-Black Lake project.

Keep reading...Show less
FREEGOLD ANNOUNCES CLOSING OF $10 MILLION BROKERED PRIVATE PLACEMENT FINANCING

FREEGOLD ANNOUNCES CLOSING OF $10 MILLION BROKERED PRIVATE PLACEMENT FINANCING

Freegold Ventures Limited (TSX: FVL) (" Freegold " or the " Company "), is pleased to announce that further to its news release of March 8, 2024 the Company has closed its upsized brokered private placement offering for aggregate gross proceeds of $10,000,000 ). Paradigm Capital acted as sole agent (the " Agent ") on the Offering.

In connection with the Offering, the Company entered into an agency agreement (the " Agency Agreement ") dated March 26, 2024 , between the Company and the Agent. In accordance with the Agency Agreement, 25,000,000 units of the Company (the " Units ") were issued at a price of $0.40 per Unit. Each Unit is comprised of one common share of the Company (a " Unit Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "). Each Warrant is exercisable to acquire one common share of the Company (a " Warrant Share ") for 24 months from today's date at an exercise price of $0.52 per Warrant Share.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Advancing Multiple Gold Discoveries in Proven Jurisdictions

Advancing Multiple Gold Discoveries in Proven Jurisdictions

Focused on adding value through cost effective minerals exploration and discovery

This Presentation has been prepared as a summary only and does not contain all information about Many Peaks Minerals Limited’s (“MPK” or the “Company”) assets and liabilities, financial position and performance, profits and losses, prospects and rights and liabilities. The information in this Presentation and made to you verbally is subject to updating, completion, revision, further verification and amendment without notice.
Keep reading...Show less
Siren Gold

Significant Mineralisation Intersected at Auld Creek

Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on its Auld Creek Prospect.
Keep reading...Show less

Latest Press Releases

Related News

×