Nexus Uranium Announces Debt Settlement

Executive Summary

• Nexus Uranium entered into a debt settlement agreement to extinguish $81,000 of outstanding debt.
• The settlement will be satisfied by issuing approximately 42,408 common shares at a deemed price of $1.91 per share to the creditor.
• Completion is expected shortly, subject to customary closing conditions and regulatory approvals; the issued shares will carry a four‑month hold period.

Key Details

• Debt Amount: $81,000 outstanding debt to an arm’s‑length creditor.
• Equity Consideration: ~42,408 common shares to be issued at a deemed price of $1.91 per share.
• Purpose: Preserve cash for working capital and improve the company’s financial position by reducing liabilities.
• Closing Conditions: Subject to finalizing contractual documentation, receipt of all applicable regulatory approvals, and compliance with Canadian Securities Exchange (CSE) policies.
• Hold Period: Issued shares will be subject to a four‑month hold period under Canadian securities laws and CSE policies.

Notable Quotes

(No direct quotes were provided in the release.)