Nexus Gold to settle $996,429 debt with units

Executive Summary

• Nexus Gold Corp. has entered into settlement agreements with creditors to extinguish $996,429 of outstanding debt.
• Creditors will receive 9,489,800 settlement units at a deemed price of C$0.105 per unit; each unit comprises one common share and half of a common‑share purchase warrant.
• The warrants allow acquisition of an additional common share at C$0.20 for 24 months, with the units subject to resale restrictions and a voluntary pooling arrangement that will be released in three equal tranches (June 30, Sept. 30, Dec. 31 2026).

Key Details

• Debt extinguished: $996,429 total outstanding indebtedness.
• Settlement consideration: 9,489,800 units at C$0.105 per unit (deemed price).
• Unit composition: 1 common share + ½ common‑share purchase warrant per unit.
• Warrant terms: Right to purchase one additional common share at C$0.20 per share; exercisable for 24 months from issuance.
• Regulatory condition: Settlement completion pending approval by the TSX Venture Exchange.
• Resale restrictions: All securities issued are restricted from resale for four months and one day under applicable securities laws.
• Pooling arrangement: Creditors agree to a voluntary pooling arrangement; units cannot be transferred or assigned during this period.
• Release schedule: Units will be released from the pooling arrangement in three equal tranches on June 30, September 30, and December 31, 2026.

Notable Quotes

(No CEO/President quotes provided in the release.)