Nexus Minerals announces an AU$5.0 million placement

Nexus Minerals Limited (ASX: NXM) announced that it had received firm commitments from corporate, professional, sophisticated, and institutional investors to raise approx. AU$5.0 million via a placement. The placement includes the issue of 27,777,778 fully paid ordinary shares at AU$0.18 per new share. The issue price denotes a 10% discount on the 5-day Volume Weighted Average Price.

Proceeds from the placement will be used to fund exploration activities at the Wallbrook Gold Project comprising Crusader-Templar prospect reverse circulation drill programs, branches prospect RC drill programs, regional geophysical surveys, and the general working capital requirement.

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