Nexus Uranium closes $910,000 private placement

Executive Summary

• Nexus Uranium Corp. has closed a fully subscribed, non-brokered private placement of 3.64 million units at $0.25 per unit, raising $910,000 in gross proceeds.
• Each unit includes one common share and one transferable warrant exercisable at $0.55 per share, with an exercise restriction period until December 31, 2025.
• The company granted 212,800 finders' warrants and issued 285,000 Deferred Share Units (DSUs) to directors and officers under its 2023 omnibus equity incentive plan.

Key Details

• Units Issued: 3.64 million units.
• Price Per Unit: $0.25 CAD.
• Gross Proceeds: $910,000 CAD.
• Warrant Terms (Investors): Each unit includes one transferable common share purchase warrant.
  • Exercise Price: $0.55 per share.
  • Expiration Date: October 31, 2027.
  • Lock-up/Restriction: Warrants are restricted from exercise until December 31, 2025 (61 days post-closing).
• Finder's Warrants: 212,800 warrants issued in connection with the offering.
  • Exercise Price: $0.55 per share.
  • Expiration Date: October 31, 2027.
• Use of Proceeds: Permitting, South Dakota relations, drilling bonds, marketing, investor relations, working capital, and general corporate purposes.
• Regulatory Basis: Issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106. Relies on Coordinated Blanket Order 45-935. Securities to Canadian residents are not subject to resale restrictions.
• Equity Incentive Plan Update: Added Deferred Share Units (DSUs) as a new award category under the 2023 omnibus equity incentive compensation plan.
• DSU Grants: Aggregate of 285,000 DSUs granted to directors and officers.
  • Vesting Schedule: 12-month period, with 25% vesting every three months after the date of grant.