NexGen Energy (NXE-V) Nov 12, '14 is pleased to announce that it has completed its previously announced bought deal offering, including the exercise in full of the over-allotment option, raising aggregate gross proceeds of $11,500,000. Pursuant to the Offering, 25,000,000 flow through shares of NexGen were issued at a price of $0.46 per share. The Flow Through Shares are subject to a four month hold period expiring on March 13, 2015.
The proceeds received by the Company from the sale of the Flow-Through Shares will be used for its upcoming 2015 drilling and exploration program at its Rook I project, Athabasca Basin, Saskatchewan, location of the Arrow Discovery. The land based Arrow discovery covers a 515m x 215m mineralized zone commencing 100m from surface down to 730m and is open in every direction. 30 of the 32 holes drilled to date at Arrow, have intersected uranium mineralization. Most noticeably AR-14-30 (see news release dated October 6, 2014) which returned a composite grade thickness of 909, inclusive of a continuous zone of 46 meters @ 10.32% U3O8, ranking it as one of the best drill holes in the Athabasca Basin. The winter drilling program will commence early January 2015.
The Offering was led by Cormark Securities Inc., on behalf of a syndicate of underwriters including Dundee Securities Ltd, Cantor Fitzgerald Canada Corporation and Edgecrest Capital Corporation (collectively, the "Underwriters"). In connection with the Offering, the Underwriters received a cash commission equal to 6.0% of the gross proceeds raised under the Offering.
The Company has also issued 129,186 common shares to Garrett Ainsworth, the Vice-President, Exploration and Development for the Company, in consideration for services rendered, at a deemed price of $0.46 per common share. These shares are also subject to a four month hold period.
About NexGen
NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of exploration professionals with a track record in the discovery of unconformity-style uranium deposits in Canada.
NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook 1, location of the Arrow Discovery, and an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto's Roughrider Deposit.
The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE NexGen Energy Ltd.
 Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd.,
1 604 428 4112,
lcuryer@nexgenenergy.ca
www.nexgenenergy.ca
Kin Communications
Tel: 604 684 6730
Toll free 1 866 684 6730
Email: nxe@kincommunications.com ,
Website: nexgenenergy.ca |
