Nexus Gold CORP. (TSXV: NXS) (OTCQB: NXXGF) (FSE: N6E) (the "Nexus Gold") and BELGRAVIA HARTFORD CAPITAL INC. (CSE: BLGV) ("Belgravia Hartford") (collectively, the "Parties") are pleased to jointly announce that the Parties have entered into a debt settlement agreement (the "Revised Agreement"). Under the Revised Agreement, Nexus Gold will issue a total of 3,600,000 common shares at a deemed price of $0.05 per common share in satisfaction of outstanding indebtedness owing to Belgravia Hartford totalling $180,000. The outstanding indebtedness comprises principal amounts which were previously advanced to Nexus Gold for working capital purposes, along with accrued interest. The common shares issuable pursuant to the Revised Agreement will be subject to restrictions on resale for a period of four months and one day in accordance with applicable securities laws. Completion of the debt settlement remains subject to the approval of the TSX Venture Exchange.
The Revised Agreement replaces in its entirety the debt settlement previously announced by Nexus Gold and Belgravia Hartford on August 28, 2023 and August 29, 2023 respectively, which the Parties will not be proceeding with.
About Nexus Gold Corp.
Nexus Gold is a Canadian-based gold development company with an extensive portfolio of exploration projects in West Africa. The Company's West African-based portfolio totals over 560-sq kms (56,000+ hectares) of land located on active gold belts and proven mineralized trends. 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 www.nexusgoldcorp.com
About Belgravia Hartford
Belgravia Hartford Capital Inc. ("Belgravia" or the "Company") is a publicly traded investment holding company listed on the Canadian Securities Exchange. Belgravia is focused on growing its assets and holdings and increasing its net asset value (NAV). Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. It takes a multi-sector investment approach with emphasis in the resources and commodities sector. Belgravia and its investments are considered high risk holdings and it may expose shareholders to significant volatility and losses.
For more information, please visit www.belgraviahartford.com
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
TSX Venture Exchange Disclaimer
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.
Nexus Gold Contact
Milad Zareian, Chief Executive Officer
Belgravia Hartford Contact
Mehdi Azodi, President & CEO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188475