Business
NexGen Announces US$30 Million Financing with Queen's Road Capital
NexGen Announces US$30 Million Financing with Queen's Road Capital Canada NewsWire...
About this update from Nexgen Energy Ltd.
[{"type":"text","content":"\n\n\n\nNexGen Announces US$30 Million Financing with Queen's Road Capital\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 11, 2020\n\n\n\nVANCOUVER, May 11, 2020 /CNW/ - NexGen Energy Ltd. (\"NexGen\" or the \"Company\") (TSX:NXE, NYSE MKT:NXE) is pleased to announce that it has entered into a binding agreement with Queen's Road Capital Investment Ltd. (\"QRC\") (TSXV: QRC) for a financing package totalling US$30 million, comprising:\n(a)  US$15 million of common shares of NexGen (the \"Placement Shares\"); and \n(b)  US$15 million aggregate principal amount of unsecured convertible debentures (the \"Debentures\").\nThe US$15 million private placement of Placement Shares will result in the issuance of approximately 11.6 million Placement Shares at a price of C$1.80 per Placement Share, (equal to a 5% premium to the 20-day VWAP of the Company's common shares (the \"Common Shares\")). The Debentures will be convertible at the holder's option into approximately 8.9 million Common Shares (at current exchange rates, with actual number of Common Shares to be issued dependent on exchange rate at time of conversion). \nLeigh Curyer, Chief Executive Officer of NexGen, commented, \"We welcome QRC as a new shareholder of NexGen. QRC is becoming a leading financier to the global resources sector in portfolio companies incorporating elite standards of ESG. QRC complements NexGen's existing well respected shareholder base of long term committed supporters of the Company. NexGen's commitment to deliver highly positive impacts to as many people as possible covering economic, health, community and government through the optimal development of the Arrow Project, particularly in these times, is reflective of its leading organizational culture. \"\nWarren Gilman, Chairman and Chief Executive Officer of Queen's Road Capital, commented,  \"I am excited to announce QRC's investment into NexGen. QRC seeks to invest in world-class mineral resource assets in safe jurisdictions and the Arrow Project,...