Nexus Gold appoints Stalker as non-executive chairman

Mar 13, 2019

2019-03-12 09:22 ET – News Release

Mr. Alex Klenman reports


Nexus Gold Corp. has appointed J. Ian Stalker as non-executive chairman. Mr. Stalker, currently a director with the company, has more than 45 years of development and operational mining experience in countries around the world, including over a decade working in West Africa.

Among his many senior executive positions, he was managing director of Ashanti Goldfields Co. Ltd. (later to become AngloGold Ashanti), vice-president of Gold Fields Ltd. (at one point the world’s fourth-largest gold producer), and chief executive officer and director of Brazilian Gold Corp., among others. He was also CEO of UraMin, a publicly listed uranium company, from 2005 through 2007, when it was acquired by Areva for $2.5-billion.

Among his current titles, Mr. Stalker is the president and CEO of LSC Lithium and a director with K92 Mining Inc., a TSX Venture Exchange-listed company that is operating a high-grade gold mine in Papua New Guinea. In January, 2019, LSC Lithium announced it had accepted a $111-million buyout offer.

Mr. Stalker has successfully managed over 10 mining projects through feasibility study, development and construction phases. Among those companies where he has held senior management positions, he has overseen significant market cap growth. Over the past decade, he has been active in multiple merger and acquisition initiatives and has been directly involved in the raising of over $500-million in capital investment for mining projects around the world.

“We’re happy Ian has accepted our invitation to increase his role with the company,” said president and CEO, Alex Klenman. “His experience, knowledge and guidance will be of great benefit to the company and of even greater importance as the next few years are critical in our growth cycle. Having Ian onboard in a more prominent and active position with Nexus is something our shareholders can be excited about. His track record in helping to grow company evaluations is impressive,” continued Mr. Klenman.

Debt settlement

The company also announces that it has reached an agreement with an arm’s-length creditor to settle outstanding indebtedness, totalling $90,562.50, through the issuance of 787,500 units at an effective price of 11.5 cents per unit. Each unit comprises one common share of the company and one common share purchase warrant, exercisable to acquire a further common share at a price of 18 cents for a period of 24 months. Completion of the settlement remains subject to the approval of the TSX Venture Exchange. All securities issued in connection with the settlement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

Option grant

The company also wishes to clarify certain information surrounding grants of incentive stock options disclosed in the company’s news releases of Feb. 19, 2019, and Feb. 28, 2019. The company confirms that it did proceed with the grant of 1.3 million incentive stock options, exercisable at a price of 15 cents, on Feb. 19, 2019. The company completed a further grant of 1.3 million incentive stock options, exercisable at a price of 13 cents, on Feb. 28, 2019. Subsequently, the company has arranged to cancel all of the options granted on Feb. 19, 2019. As a result, the only incentive stock options granted are 1.3 million options, granted on Feb. 28, 2019, exercisable at a price of 13 cents for a period of 60 months.

About Nexus Gold Corp.

Nexus Gold is a Vancouver-based gold exploration and development company with four projects in Burkina Faso, West Africa, and two more in Canada. The company is currently concentrating its efforts on establishing a compliant resource at one or more of its four current Burkina-based projects, which total over 560 square kilometres of land located on active gold belts and proven mineralized trends.

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