Mr. Alex Klenman reports
NEXUS GOLD CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT
Nexus Gold Corp. has closed the final tranche of its non-brokered private placement of units at a price of 25 cents per unit. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant is exercisable to acquire one additional common share of the company at a price of 35 cents per share for a period of 12 months.
In connection with completion of this final tranche, the company issued 432,768 units. When combined with the earlier tranche of the private placement, the company has raised gross proceeds of $825,232.50. This private placement follows the successful completion of the company's earlier financing round for gross proceeds of $3,004,068.
In connection with completion of this final tranche of the private placement, the company has paid cash commissions of $2,400 and issued 9,600 share purchase warrants to certain persons who have introduced subscribers to the company. Each finder's warrant is exercisable to acquire an additional common share of the company on the same terms as the warrants under the units. All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period.
About Nexus Gold Corp.
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 on one or more of its three current projects. The 38-square-kilometre Bouboulou project comprises no less than five established gold zones contained within three separate five-kilometre gold trends. The adjacent 250-square-kilometre Rakounga gold concession extends the Bouboulou gold trends and currently contains three drill tested zones of mineralization.
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