Precious Metals

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)
Challenger Exploration

Ecuador Operations Unaffected By Earthquake

Challenger Exploration (ASX: CEL) (“CEL” the “Company”) notes the reporting of a magnitude 6.7 earthquake in Southern Ecuador and Northern Peru over the weekend. The earthquake was centred in El Oro Province, Ecuador which contains the Company's El Guayabo Gold Copper Project.

Keep reading...Show less
Breaker Resources

Ramelius Makes Recommended Takeover Offer for Breaker Resources: Bid Implementation Agreement

Ramelius Resources Limited (ASX:RMS) (Ramelius) and Breaker Resources NL (ASX:BRB) (Breaker) refer to today’s announcement “Ramelius Makes Recommended Takeover Offer for Breaker Resources” and enclose a copy of the Bid Implementation Agreement.

Keep reading...Show less
Breaker Resources

Ramelius Makes Recommended Takeover Offer for Breaker Resources

Ramelius Resources Limited (ASX:RMS) (Ramelius) and Breaker Resources NL (ASX:BRB) (Breaker) are pleased to announce that they have entered into a Bid Implementation Agreement (BIA), pursuant to which Ramelius will offer to acquire all the issued ordinary shares of Breaker by way of an all-scrip off-market takeover offer (the Offer).

Keep reading...Show less
gold bars with down arrow

Top Stories This Week: US Bank Failures Send Gold Flying, M&A Continues

Gold was on the rise this week as the broader financial markets faced turmoil.

The yellow metal neared US$2,000 per ounce on Friday (March 17) after ending February at about US$1,810.

The rise has been a little bumpy — gold jumped to the US$1,855 level in the first week of March, then pulled back to US$1,810. But this week it rocketed past US$1,900, rising as high as US$1,988.18, where it closed the week.

Keep reading...Show less

Peerless Asset Quality and High-Potential Prospects Position Barrick for Profitable Growth

All amounts expressed in US dollars

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) The past year marked a major milestone in Barrick's journey to becoming the world's most valued gold and copper mining company, with the foundational targets of the new business created by the Merger 1 having largely been met, and its greater goals now within reach, says president and chief executive Mark Bristow with the publication of the company's 2022 annual report today.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
thom calandra, stock charts

Thom Calandra: Gold, Silver, Platinum, Copper — Metals of Interest Right Now

M&A activity is heating up in the gold space, and Canada's Yukon is one area that's seeing attention.

After turning down an offer from Victoria Gold (TSX:VGCX,OTC Pink:VITFF), explorer ATAC Resources (TSXV:ATC,OTCQB:ATADF) signed a non-binding letter of intent to be acquired by Hecla Mining Company (NYSE:HL).

Announced in February, the letter of intent has since been extended to allow for more due diligence.

Keep reading...Show less

Latest Press Releases

Related News

×