(TheNewswire)
Vancouver B.C. - TheNewswire - May 30, 2023 – NEXUS GOLD CORP.(“Nexus” or the “Company”) (TSXV:NXS ) , ( OTC:NXXGF ) , ( FSE:N6E) is pleasedto announce that it has closed the first tranche of its non-brokered$1 million private placement, as described in its press release ofApril 14, 2023 (the “ Offering ”) and has issued 10,000,000 unitsof the Company (each, a “ Unit ”) at a price of $0.05 per Unit foraggregate proceeds of $500,000.
In connection with the Offering, each Unit consists ofone common share and one common share purchase warrant (each, a“ Warrant ”). Each Warrant entitles the holder to purchase oneadditional common share (each, a “ Warrant Share ”) ata price of $0.12 per Warrant Share until November 29, 2024, subject toadjustment in certain events. If, at any time following the closing ofthe Offering, the Company’s common shares have a closing price onthe TSXV Venture Exchange (the “ TSXV ”) of $0.18 orgreater per common share for a period of ten (10) consecutive tradingdays, the Company shall have the right to accelerate the expiry dateof the Warrants that is at least 30 days following the date of suchnotice to holders of Warrants. Units in the Offering were offered forsale to purchasers resident in Canada, except Quebec, and/or otherqualifying jurisdictions pursuant to the listed issuer financingexemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions , and are not be subject to any statutory hold period inaccordance with applicable Canadian securities laws. The Company mayclose additional tranches of the Offering.
In connection with the first tranche of the Offering,the Company paid cash finders’ fees of $20,000 and issued 400,000finders’ warrants. Each finders’ warrant entitles the holder topurchase one common share of the Company until November 29, 2024 at aprice of $0.12 per common share.
There is an amended and restated offering documentdated May 29, 2023 (the “ Offering Document ”) related to the Offeringthat can be accessed under the Company’s profile at www.sedar.com and on theCompany’s website at www.nxs.gold .Prospective investors should read this Offering Document before makingan investment decision. The Company intends to use the aggregateproceeds from the Offering to advance its primary business objectiveof continuing exploration and development of its projects in WestAfrica and for general working capital purposes.
About Nexus Gold Corp.
Nexus Gold is a Canadian-based gold development companywith 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 provenmineralized trends. The Company is focusing on the development ofseveral core assets while seeking joint-venture, earn-in, andstrategic partnerships for other projects in its growingportfolio.
ON BEHALF OF THE BOARD OF NEXUS GOLDCORP.
“Milad Zareian”
Milad Zareian, Chief ExecutiveOfficer
For furtherinformation please contact:
Milad Zareian, Chief ExecutiveOfficer
Tel: 416-846-4599
Forward-Looking Statements
This press release includes certain"forward-looking information" and "forward-lookingstatements" (collectively "forward-looking statements")within the meaning of applicable Canadian securities legislation. Allstatements, other than statements of historical fact, included herein,without limitation, statements relating to the future operating orfinancial performance of the Company, are forward looking statements.Forward-looking statements are frequently, but not always, identifiedby 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 beachieved. Forward-looking statements in this press release relate to,among other things: statements relating to the successful closing ofthe Offering, anticipated completion of further tranches of theOffering and the intended use of proceeds. Actual future results maydiffer materially. There can be no assurance that such statements willprove to be accurate, and actual results and future events coulddiffer materially from those anticipated in such statements. Forwardlooking statements reflect the beliefs, opinions and projections onthe date the statements are made and are based upon a number ofassumptions and estimates that, while considered reasonable by therespective 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 theresults, performance or achievements that are or may be expressed orimplied by such forward-looking statements and the parties have madeassumptions and estimates based on or related to many of thesefactors. 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-lookingstatements and information contained in this news release concerningthese times. Except as required by law, the Company does not assumeany obligation to update the forward-looking statements of beliefs,opinions, projections, or other factors, should they change, except asrequired by law.
TSX Venture Exchange Disclaimer
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
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