Business
Nexus Gold Announces Debt Settlement
(TheNewswire) Vancouver BC - TheNewswire - August 28, 2023 - Nexus Gold Cor...
About this update from Nexus Gold Corp.
[{"type":"text","content":"Nexus Gold Announces Debt Settlement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver BC -\n \n \n TheNewswire -\n \n \n August 28, 2023\n \n \n -\n \n \n Nexus Gold Corp.\n \n \n (the\n \n \n “\n \n \n Company\n \n \n ”)\n \n \n (TSX.V:NXS\n \n \n )\n \n \n (\n \n \n OTC:NXXGF\n \n \n )\n \n \n (\n \n \n FSE:N6E)\n \n \n \n \n is pleased to announce that it has\nreached agreements with two arms-length creditors (collectively,\n“\n \n \n Creditors\n \n \n ”) of the Company to settle (the “\n \n \n Settlement\n \n \n ”)\noutstanding indebtedness totaling $735,821 through the issuance of\n14,716,422 common shares (the “\n \n \n Settlement Shares\n \n \n ”) at a deemed price of\n$0.05 per Settlement Share.  The outstanding indebtedness comprises\nprincipal amounts which were previously advanced to the Company for\nworking capital purposes, along with accrued interest.\n \n \n \n \n The Settlement Shares will be subject to restrictions\non resale for a period of four-months-and-one-day in accordance with\napplicable securities laws.  Issuance of the Settlement Shares is\nexpected to result in the Creditors becoming insiders of the Company,\nas such term is defined by the policies of the TSX Venture Exchange.\n Completion of the Settlement remains subject to the approval of the\nTSX Venture Exchange.\n \n \n \n \n About Nexus Gold Corp.\n \n \n \n \n Nexus Gold is a Canadian-based gold development company\nwith an extensive portfolio of exploration projects in West Africa.\nThe Company’s West African-based portfolio totals over 560-sq kms\n(56,000+ hectares) of land located on active gold belts and proven\nmineralized trends.  The Company is focusing on the development of\nseveral core assets while seeking joint-venture, earn-in, and\nstrategic partnerships for other projects in its growing\nportfolio.\n \n \n \n \n ON BEHALF OF THE BOARD OF NEXUS GOLD\nCORP.\n \n \n \n \n “Milad Zareian”\n \n \n \n \n Milad Zareian, Chief Executive\nOfficer\n \n \n \n \n For further\ninformation please contact:\n \n \n \n \n Milad Zareian, Chief Executive\nOfficer\n \n \n \n \n Tel: 416-846-4599\n \n \n \n \n \n \n info@nexusgoldcorp...