Nexus Gold Closes Initial Tranche of Private Placement
TSX VENTURE: NXS
Vancouver, Canada / June 27, 2018 / JMN Wire / Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce that it has closed an initial tranche of its non-brokered private placement (the “Private Placement”) of units (each, a “Unit”) at a price of $0.25 per Unit. Each Unit consists of one common share of the Company, and one common share purchase warrant (each, a “Warrant”). Each Warrant is exercisable to acquire one additional common share of the Company at a price of $0.35 per share for a period of twelve months.
In connection with completion of this initial tranche, the Company issued 2,868,162 Units, for gross proceeds of $717,040.50. The Private Placement follows the successful completion of the Company’s earlier financing round for gross proceeds of $3,004,068, and the Company expects to complete a second and final tranche shortly.
In connection with completion of this initial tranche of the Private Placement, the Company has paid cash commissions of $15,200, and issued 60,800 share purchase warrants (each, a “Finders’ Warrant”) to certain persons who have introduced subscribers to the Company. Each Finders’ Warrant is exercisable to acquire an additional common share of the Company on the same terms as the Warrants comprising the Units. All securities issued in connection with the Private Placement are subject to a four-month-and-one-day statutory hold period.
About the Company
Nexus Gold is a Vancouver-based gold exploration and development company operating primarily in Burkina Faso, West Africa. The Company is currently concentrating its efforts on establishing a compliant resource oat one or more of it’s three current projects. The 38-square km Bouboulou project comprises no less than five established gold zones contained within three separate 5km gold trends. The adjacent 250-square km Rakounga gold concession extends the Bouboulou gold trends and currently contains three drill tested zones of mineralization. The Niangouela gold concession is a 178-square km project featuring high-grade gold occurring in and around a primary quartz vein and associated shear zone approximately one km in length.