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NEXUS GOLD CLOSES $1.25 MILLION PRIVATE PLACEMENT

Nexus Gold Corp. (NXS.V)  has completed a non-brokered private placement of 25.1 million units in the capital of the company at a price of five cents per unit for gross proceeds of $1,255,000.

Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of 7.5 cents for a period of 24 months.

“With a well-received private placement consisting of many sophisticated investors, our treasury is now strong. Our focus moving forward will be accelerating and expanding a fully funded phase one work program at Bouboulou and executing its objectives,” commented Peter Berdusco, president and chief executive officer of the company.

In connection with completion of the offering, the company has paid $20,240 and issued 967,000 common shares and 638,300 warrants to certain finders who introduced subscribers to the offering. All securities issued pursuant to the offering will be subject to a statutory four-month hold period.