NEXUS URANIUM CORP - GIDMF STOCK NEWS

Nexus Uranium Corp (CSE: NEXU) (OTCQB: GIDMF) has completed its non-brokered private placement, raising $2,082,301.20 through the issuance of 6,941,004 flow-through units at $0.30 per unit. Each unit includes one flow-through share and one warrant exercisable at $0.40 for 18 months after closing. The company paid $100,818.066 and issued 336,060 finders' warrants to certain finders. The proceeds will fund Canadian exploration expenses and flow-through critical mineral mining expenditures at the Cree East uranium project in the Athabasca Basin.

Nexus Uranium Corp (CSE: NEXU, OTCQB: GIDMF) has completed contracting activities for its upcoming winter drill program at the Cree East uranium project. The company has finalized agreements with drilling and camp service providers, including Athabasca Catering Partnership and Cyr Drilling International . The project is operated as a joint venture between CanAlaska Uranium and Nexus Uranium.

Mobilization is expected to begin in the coming weeks, with drilling scheduled to commence in early January 2025. The agreements provide flexibility to adapt based on exploration results.

Nexus Uranium Corp has announced drill targets for its upcoming winter diamond drill program at the Cree East uranium project in Saskatchewan's Athabasca Basin. The program, set to commence in January 2025, will primarily focus on Area B, which previously yielded significant results but wasn't followed up after 2012.

The project has benefited from over $20 million in prior exploration drilling from 2009 to 2012. Area B showed intense alteration zones extending from 400m depth to near surface, featuring rehealed breccia, rotated blocks, and pyrite impregnations, along with arsenic geochemical halo and uranium enrichment.

The company plans three to four holes to test the contact between the EM conductor at the unconformity, utilizing prior drilling data and geophysics reinterpretation that confirmed anomalous mineralization.

Nexus Uranium Corp (CSE: NEXU) (OTCQB: GIDMF) has appointed Drew St. Laurent to its Board of Directors. St. Laurent brings academic expertise with degrees from Thompson Rivers University and University of British Columbia, including research focus on Indigenous education access. He currently serves as a Senior Administrator and lecturer in Health Sciences at UBC since 2012. Upon appointment, St. Laurent received 150,000 stock options, exercisable at $0.26 per share over five years.

Nexus Uranium Corp (CSE: NEXU) (OTCQB: GIDMF) has provided a corporate update highlighting several key developments. The company recently monetized its Independence project interest for over C$1.2 million and is preparing for a winter drill program at the Cree East uranium project in January 2025. Nexus has engaged Canaccord Genuity Corp as financial advisor, compensating them with C$75,000 in shares. The company has also renewed its marketing agreement with MIC for EUR 250,000 and granted 1,450,000 stock options and 300,000 RSUs to directors, officers, and consultants.

Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) has announced the repricing of 2,400,000 common share purchase warrants. The warrants, originally priced at $0.60 with an expiry date of April 30, 2026, will now have an exercise price of $0.36, effective immediately. This repricing is subject to the unanimous consent of the registered warrant holders and complies with Canadian Securities Exchange (CSE) policies.

The CSE requires that if the closing price of Nexus's common shares exceeds the new exercise price by more than 25% for any ten consecutive trading days, the expiry date of the repriced warrants must be amended to 30 days from the end of that period. Nexus will announce any such change via press release, with the 30-day period commencing seven days after the announcement.

Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) has announced the repricing of 2,887,114 common share purchase warrants. The warrants, originally set at an exercise price of $0.60 with an expiry date of June 25, 2026, will be repriced to $0.36, effective immediately. This Warrant Repricing is subject to unanimous consent from registered holders of the outstanding Repriced Warrants, as per Canadian Securities Exchange (CSE) policies.

The CSE policies also stipulate that if the closing price of Nexus's common shares exceeds the amended exercise price by more than 25% for any ten consecutive trading days, the expiry date of the Repriced Warrants must be amended to 30 days from June 25, 2026. Nexus will announce any such change via press release, with the 30-day period commencing seven days after the end of the ten-day trading period.

Nexus Uranium Corp (CSE: NEXU) (OTCQB: GIDMF) has successfully completed the sale of its 51.54% interest in the development-stage Independence project in Nevada. The sale was executed through a right of first refusal exercised by America's Gold Exploration Inc (AGEI), the Company's joint venture partner, for C$1.22 million.

CEO Jeremy Poirier stated that this sale of non-core assets provides additional non-dilutive capital to advance the company's uranium exploration focus. Nexus Uranium remains well-capitalized as it prepares for its winter drill program at Cree East, expected to mobilize in early 2025.

Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) has announced the proposed sale of its 51.54% interest in the Independence project in Nevada for C$1.2 million. The company entered into a definitive Purchase Agreement with a private third party on August 20th, 2024. The buyer has made a C$150,000 deposit, with the balance due at closing, expected around October 3rd, 2024.

The transaction is subject to certain conditions, including the Company's joint venture partner not exercising its right of first refusal. CEO Jeremy Poirier stated that the sale provides significant non-dilutive capital to advance Nexus's uranium focus, particularly the Cree East project in the Athabasca Basin. The company plans to use the proceeds to expand its planned exploration program at Cree East, for which it has received all necessary permits and approvals.