(TheNewswire)
Vancouver, Canada – TheNewswire - May 16, 2023 – Nexus Gold Corp. (“ Nexus Gold ” or the “ Company ”)(TSXV:NXS ) , ( OTC:NXXGF ) , ( FSE:N6E) as previously announced on April 14, 2023, theCompany confirms that effective at the close ofbusiness on May 17, 2023, it will consolidate its common share capitalon a ten-for-one basis (the “ Consolidation ”). Effective at the openingof markets on May 18, 2023, the common shares of the Company willcommence trading on a post-consolidation basis under the existingticker symbol “NXS”).
The Consolidation is intended to make the capitalstructure of the Company more attractive to potential financingopportunities. The Company currently has 318,733,225 common sharesoutstanding and following completion of the Consolidation it isexpected that the Company will have approximately 31,873,323 sharesoutstanding.
No fractional shares will be issued in connection withthe Consolidation. Shareholders who would otherwise be entitled toreceive a fraction of a common share will be rounded down to thenearest whole number of common shares and no cash consideration willbe paid in respect of fractional shares. Registered holders ofcommon shares of the Company will receive a letter of transmittal fromComputershare Trust Company of Canada with instructions on how toexchange existing share certificates for new post-Consolidation sharecertificates.
Nexus Gold is a Canadian-based gold exploration anddevelopment company with an extensive portfolio of projects in WestAfrica. The Company will continue development of assets in West Africain addition to broadening its scope to other jurisdictions.
For more information, please visit nxs.gold
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Milad Zareian
CEO
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements. These statements are based on currentexpectations and assumptions that are subject to risks anduncertainties. Actual results could differ materially because offactors discussed in the management discussion and analysis section ofour interim and most recent annual financial statement or other reports and filings with theTSX Venture Exchange and applicable Canadian securities regulations.We do not assume any obligation to update any forward-lookingstatements, except as required by applicable laws.
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