(TheNewswire)
Vancouver, BC - TheNewswire - June 30 , 2023 - NEXUS GOLD CORP. (“ Nexus ” or the “ Company ”) (TSX.V:NXS ) ( OT C :NXXGF ) ( FSE:N6E) announces that the TSX Venture Exchange (the “ TSXV ”) has approvedan extension to close the non-brokered private placement announced onApril 14, 2023 involving the issuance of up to 20,000,000 units of the Company (each, a “ Unit ”) at a priceof $0.05 per Unit for gross proceeds of up to $1,000,000 (the“ Offering ”). The extension allows the Offering to remain openthrough to July 14, 2023.
Each Unit in the Offering will be comprised of onecommon share and one common share purchase warrant (each, a“ Warrant ”). Each Warrant will entitle the holder to purchase oneadditional common share (each, a “ Warrant Share ”) ata price of $0.12 per Warrant Share for a period of eighteen (18)months from closing of the Offering, subject to adjustment in certainevents. If, at any time prior to the expiry date of the Warrants, the Company’s common shares have a closing price on the TSXVof $0.18 or greater per common share for a period of ten (10)consecutive trading days, the Company shall have the right toaccelerate the expiry date of the Warrants to a date that is at least30 days following the date of such notice to holders ofWarrants.
In connection with completion of the Offering, theCompany may pay finders’ fees or commissions to eligiblethird-parties who have assisted in introducing subscribers to theOffering. Completion of the Offering remains subject to the approvalof the TSXV and the satisfaction of applicable public distributionrequirements.
Subject to compliance with applicable regulatoryrequirements and in accordance with National Instrument 45-106 Prospectus Exemptions (“ NI45-106 ”) , the Offering is being made to purchasersresident in Canada, except Quebec, pursuant to the listed issuerfinancing exemption under Part 5A of NI- 45-106 (the “ Listed Issuer FinancingExemption ”). The securities offered under theListed Issuer Financing Exemption will not be subject to a hold periodin accordance with applicable Canadian securities laws. There is anamended and restated offering document related to the Offering thatcan be accessed under the Company’s profile at www.sedar.com and on theCompany’s website at: www.nxs.gold . Prospectiveinvestors should read this amended and restated offering documentbefore making an investment decision.
The Company intends to use the aggregate proceeds fromthe Offering to advance its primary business objective of continuingexploration and development of its projects in West Africa and forgeneral 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 and anticipated timing thereof and the intended use ofproceeds. Actual future results may differ materially. There can be noassurance that such statements will prove to be accurate, and actualresults and future events could differ materially from thoseanticipated in such statements. Forward looking statements reflect thebeliefs, opinions and projections on the date the statements are madeand are based upon a number of assumptions and estimates that, whileconsidered reasonable by the respective parties, are inherentlysubject to significant business, technical, economic, and competitiveuncertainties and contingencies. Many factors, both known and unknown,could cause actual results, performance or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements and the parties have made assumptions and estimates basedon or related to many of these factors. Such factors include, withoutlimitation: the timing, completion and delivery of the referencedassessments and analysis. Readers should not place undue reliance onthe forward-looking statements and information contained in this newsrelease concerning these times. Except as required by law, the Companydoes not assume any obligation to update the forward-lookingstatements of beliefs, opinions, projections, or other factors, shouldthey change, except as required 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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