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Nexus Gold Raises $3 Million in Private Placement
(TheNewswire) Vancouver, Canada - TheNewswire ...
About this update from Nexus Gold Corp.
[{"type":"text","content":"Nexus Gold Raises $3 Million in Private Placement\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 Vancouver, Canada\n-\n \n \n TheNewswire\n \n \n – December 31, 2020\n \n \n -\nNexus Gold Corp. (“Nexus” or the “Company”)\n(TSXV: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 is pleased to announce that it has\ncompleted the offering of 18,440,910 flow-through units (each, an\n“\n \n \n FT Unit\n \n \n ”).  The FT Units were offered by way of non-brokered\nprivate placement, at a price of $0.055 per FT Unit, for gross\nproceeds of $1,014,250.   Each “FT Unit” is comprised of one\ncommon share, and one common share purchase warrant (each, an\n“\n \n \n FT Warrant\n \n \n ”) exercisable to acquire an additional common share at a\nprice of $0.07 for a period of thirty-six months.\n \n \n \n \n The Company has also completed a final tranche of its\npreviously announced offering of non-flow-through units (each, an\n“\n \n \n NFT Unit\n \n \n ”), and has issued a further 25,873,682 NFT Units at a\nprice of $0.055 per NFT Unit.  Each “NFT Unit” consists of one\ncommon share of the Company, and one-half-of-one common share purchase\nwarrant (each, an “\n \n \n NFT\nWarrant\n \n \n ”) exercisable to acquire an additional\ncommon share of the Company at a price of $0.075 for a period of\ntwenty-four months.\n \n \n \n \n When combined with the earlier offering of NFT Units\ncompleted by the Company on November 30, 2020, the Company has raised\ngross proceeds of $3,007,640 through the offering of FT Units and NFT\nUnits.  The gross proceeds from the offerings will be used for\nfurther project development work, for general working capital\npurposes, and to fund Canadian Exploration Expenses (within the\nmeaning of the Income Tax Act (Canada)) which shall qualify as\n“flow-through mining expenditures” for the purposes of the Income\nTax Act (Canada).\n \n \n \n \n In connection with completion of the offerings, the\nCompany paid finders’ fees of $74,655 and issued 1,029,364 FT\nWarrants and 630,400 NFT Warrants to certain arms-length parties who\nintroduce subscribers ...