Vancouver, Canada – September 21, 2015 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS) is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement. The Company has issued 4,375,000 units (the “Units”) at $0.12 per Unit for aggregate proceeds of $525,000.
Each Unit consists of one (1) common share (a “Share”) in the capital of the Company and one share purchase warrant. Each warrant will entitle the holder to purchase one (1) additional Share (a “Warrant Share”) for $0.12 for a period of twenty-four (24) months.
All securities issued pursuant to the offering are subject to a statutory four-month hold period.
The net proceeds will be used by the Company for its 2015 drill program at the Walker Ridge Gold Project, and for general working capital purposes.
About the Company
Nexus Gold Corp. is a Vancouver-based mineral exploration company that develops precious metal mineral assets in the world’s premier mining and exploration districts. The company is currently concentrating its exploration efforts on the Walker Ridge Gold Project, a drill-ready, multiple-target, Carlin-type gold exploration project located in the Independence/Jerritt Canyon Gold Trend, Nevada, USA.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
President and 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.