Nexus Gold Increases Financing to $3 Million
TSX VENTURE: NXS
Vancouver, Canada / TheNewswire / February 19, 2019 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce that due to strong investor interest, the board of directors of the Company has approved an increase in the size of the Company's previously announced private placement financing. The Company now intends to offer up to 26,086,957 units (each, a "Unit") at a price of $0.115 per unit for gross proceeds of up to $3,000,000. Each "Unit" will consist of one common share of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to acquire an additional common share at a price of $0.18 for a period of twenty-four months.
The Company may pay finders' fees to eligible parties who have introduced subscribers to the placement. All securities issued in connection with the placement will be subject to a four-month-and-one-day statutory hold period, in accordance with applicable securities laws. Completion of the placement remains subject to the approval of the TSX Venture Exchange.
For further information regarding the intended use of the proceeds from the placement, readers are encouraged to review the Company's news release of February 12th, 2019.
The Company also announces it will grant 1,300,000 incentive stock options to certain directors, officers and consultants to the Company. The options will vest immediately and will be exercisable at a price of $0.15 for a period of sixty months.
About the Company
Nexus Gold is a Vancouver-based gold exploration and development company with active projects in West Africa, and in Canada. The company is currently concentrating its efforts on establishing a compliant resource at one or more of it's four current Burkina Faso-based projects which total over 560-sq kms (56,000+ hectares) of land located on active gold belts and proven mineralized trends. For more information please visit www.nexusgoldcorp.com.
For more information on these projects, please visit the Company website at www.nexusgoldcorp.com
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.