(TheNewswire)
Vancouver, Canada – TheNewswire -- September 8, 2022 – Nexus GoldCorp. (“ Nexus Gold ” or the “ Company ”)(TSXV:NXS ) ( OTCQB:NXXGF ) ( FSE:N6E) ispleased to announce that it has received court approval by way of afinal order granted by the Supreme Court of British Columbia for thecompletion of its arrangement (the “ Arrangement ”)involving the spinout of Nexus Metals Corp. (“ Nexus Metals ”) andits Canadian resource projects to shareholders.
In anticipation of completion of the Arrangement, theCompany has transferred all of its rights to the Canadian projects toNexus Metals. A total of 45,390,465 shares of Nexus Metals will bedistributed on a pro rata basis to shareholders of the Company,pursuant to the Arrangement. Based on the current outstanding sharecapital of the Company, it is anticipated that this will result inNexus Gold shareholders receiving approximately one Nexus Metals sharefor every seven shares of the company they hold. Completion of thearrangement remains subject to approval of the TSX VentureExchange.
The Company shall in due course determine the recorddate for the purpose of determining the Nexus Gold shareholdersentitled to receive Nexus Metals shares under the Arrangement. Aletter of transmittal will in due course be mailed to each Nexus Goldshareholder and be made available under Nexus Gold's profile onSEDAR.
Further information regarding the Arrangement isavailable in the Company's management information circular dated June7, 2022, a copy of which is available under the Company’s profile onSEDAR ( www.sedar.com ).
“This was an important step in moving our planforward,” said CEO, Alex Klenman. “We’ll establish the recorddate for determining the new shareholders in Nexus Metals over thenext week or two, with the intent to have that record date occur herein the month of September. Basically, the amount of shares of NexusGold owned on that record date will determine the amount of shares onereceives in the new company. We’re more than eager to get thisspinout completed and move forward with two viable explorationcompanies with very specific mandates. We will issue more updates aswe progress, including upcoming exploration plans,” continued Mr.Klenman.
The Company also advises it is continuing with its duediligence process in regard to the acquisition of one or more projectsfor both Nexus Metals and Nexus Gold. The Company is focused onadding energy/battery metals (i.e., lithium, lopper, nickel, etc)projects to Nexus Metals, while continuing to focus on precious metals(gold, silver) projects in Nexus Gold. Project portfolios of NexusMetals and Nexus Gold will be adjusted over time to reflect the morespecific focus of each company.
Nexus Hires Milad Zareian as VP,Operations
The Company is also pleased to announce that MiladZareian has been appointed Vice President, Operations. Mr. Zareianbrings over 10 years experience working with both private and publiccompanies in a variety of capacities. He’s been directly involvedwith IPO, RTO and start-ups, having led financing, IR and businessdevelopment initiatives for multiple companies.
“We’re pleased to bring Milad on board,” saidCEO, Alex Klenman. “He has energy, drive, and has built animpressive global contact list, all of which will benefit Nexus Goldmoving forward. The board looks forward to working with Milad overthe coming months as we complete the spinout transaction for NexusMetals and as we position Nexus Gold for its post-spinout plans,”continued Mr. Klenman.
About the Company
Nexus Gold is a Canadian-based gold exploration anddevelopment company with an extensive portfolio of projects in Canadaand West Africa. The Company’s primary focus is on its 100%-owned,Dakouli 2 Gold Concession in Burkina Faso, West Africa, and theMcKenzie Gold Project, located in Red Lake, Ontario. The Company is focusing on the development of its core assetswhile seeking joint-venture, earn-in, and strategic partnerships forother projects in its portfolio.
For more information, please visit nxs.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 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 otherreports and filings with the TSX Venture Exchange and applicableCanadian securities regulations. We do not assume any obligation toupdate any forward-looking statements, except as required byapplicable laws.
Copyright (c) 2022 TheNewswire - All rights reserved.