Nexus Uranium Stock Price, News & Analysis

Nexus Uranium Corp. (CSE: NEXU; OTCQB: GIDMF; FSE: 3H1) announced the closing of its non-brokered units offering, raising approximately $1.5 million through the issuance of 2,887,114 Flow-Through (FT) Units at $0.52 per unit. Each FT Unit contains one common share and one warrant, exercisable at $0.60 within 24 months.

The funds will be used for Canadian exploration expenses and flow-through critical mineral mining expenditures at the Cree East uranium project in the Athabasca Basin. Nexus paid $102,016 in cash finder's fees and issued 195,030 non-transferrable warrants to eligible finders.

The company also engaged Venture Liquidity Providers Inc. (VLP) to support market-making activities starting July 1, 2024, at $5,000 per month. The initial term is three months, with automatic monthly renewals thereafter. VLP operates independently and has no direct or indirect interest in Nexus.

Nexus Uranium provided an update on the Cree East uranium project. The company has applied for a three-year exploration permit which includes up to 40,000 metres of drilling and 300 line-kilometres of geophysics. The permit application, submitted on March 19, 2024, has been sent for Duty to Consult as part of the First Nation and Métis Consultation Policy. The consultation process is expected to take 90 to 100 days, with final permits anticipated between mid-September and mid-October. The CEO, Jeremy Poirier, emphasized the flexibility the permits offer for adapting drilling locations based on survey results and prior successes. The company has also announced a flow-through private placement to fund the first phase of the exploration.

Nexus Uranium announced a non-brokered private placement to raise up to $1.8 million through the sale of 3,461,538 flow-through units (FT Units) at $0.52 each. Each FT Unit includes one common share and a warrant exercisable at $0.60 for 24 months. Funds will support Canadian exploration expenses and critical mineral mining at the Cree East uranium project in the Athabasca Basin. Eligible finders may receive a 7% cash fee and warrants. Completion depends on necessary approvals, including from the Canadian Securities Exchange.

Nexus Uranium has announced a summer geophysical program for its Cree East uranium project in Saskatchewan's Athabasca Basin. The project includes a 1,746 line kilometer airborne AFMAG Electromagnetic survey to create a comprehensive geological map. The survey aims to identify conductive and resistive structures up to 2,000 meters deep, helping to pinpoint areas with potential uranium mineralization for a subsequent diamond drill program. Nexus aims to earn a 75% interest in the project from CanAlaska Uranium. The company also has other assets, including the Wray Mesa uranium-vanadium project in Utah and several gold projects in Nevada, British Columbia, and Yukon. Nexus cautions that the current data is preliminary and not yet verified.

Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) has announced strategic plans for its Independence Gold Project. The company will transfer its interest in the project to a wholly owned subsidiary, NewCo, which will then seek an initial public offering (IPO) and listing on a Canadian stock exchange. Nexus will remain a shareholder of NewCo but will not be involved in its management. This move aims to capitalize on strong gold prices and improved sentiment toward gold equities, while allowing Nexus to focus more on uranium exploration.

Nexus Uranium Corp. announces an increase in ownership of the Independence gold project in Nevada to 51.11% by diluting Americas Gold Exploration Inc. The project is seen as a low-cost, de-risked opportunity due to water rights and high gold prices.

Nexus Uranium Corp. grants 1,000,000 stock options to directors, officers, and consultants, exercisable at $0.55 per share for five years. Options have a one-year vesting period, with 25% vesting on August 1, 2024, and 25% every three months thereafter.

Nexus Uranium Corp. announced the completion of a private placement, raising $1.2 million through the issuance of 2,400,000 units at $0.50 per unit. Each unit includes a common share and a warrant exercisable at $0.60 until April 30, 2026. The company paid $61,600 and issued 130,200 warrants to finders. The proceeds will be used for option agreements, exploration work, and general corporate purposes.