Vancouver, Canada – October 22, 2015 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS) is pleased to announce that it has closed the final tranche of its previously announced non-brokered private placement. In connection with closing of this tranche, the Company issued 3,125,000 units (the “Units”) at a price of $0.12 per Unit for gross proceeds of $375,000. When combined with the initial tranche of the private placement, the Company has successfully raised $900,000.
Each Unit consists of one (1) common share of the Company and one (1) share purchase warrant entitling the holder to purchase one (1) additional share for $0.12 for a period of twenty four months. All securities issued pursuant to the offering are subject to a statutory four-month hold period. In connection with closing of the offering, the Company has paid cash finder’s fees of $2,520.
The net proceeds of the offering will be used to support the Company’s ongoing drill program on 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.
Peter Berdusco 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.