Nexus Uranium Announces Closing of Debt Settlement

Rhea-AI Summary

Nexus Uranium (OTCQB: NEXUF) closed a debt settlement on March 5, 2026, issuing 42,408 common shares at a deemed price of $1.91 per share to settle $81,000 of outstanding debt with an arm's‑length creditor.

The issuance preserves cash for working capital, reduces liabilities and the shares are subject to a four‑month hold under Canadian securities laws and CSE policy.

Vancouver, British Columbia--(Newsfile Corp. - March 5, 2026) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: NEXUF) (FSE: JA7) ("Nexus" or the "Company") announces that further to its news release dated February 10, 2026, it has issued 42,408 common shares of the Company at a deemed price of $1.91 per share to a certain arm's length creditor, pursuant to a debt settlement agreement with the arm's length creditor to settle $81,000 in outstanding debt (the "Debt Settlement").

The Company completed the Debt Settlement to preserve the Company's cash for working capital and improve its financial position by reducing its existing liabilities.

The Debt Settlement shares are subject to a four month hold period in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.

About Nexus Uranium Corp.

Nexus Uranium is a Canadian exploration company focused on uranium projects in North America. In the United States, the Company holds the Chord, Wolf Canyon, Deadhorse, and RC projects in South Dakota, and the South Pass project in Wyoming. The Great Divide Basin project in Wyoming is now under option to Canamera Energy Metals Corp. In Canada, Nexus holds the Mann Lake project in Saskatchewan's Athabasca Basin. For more information, visit www.nexusuranium.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Jeremy Poirier
Chief Executive Officer
(604) 722-9842
info@nexusuranium.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286386

FAQ

What did Nexus Uranium (NEXUF) announce on March 5, 2026 about its debt settlement?

Nexus Uranium announced it issued 42,408 common shares at a deemed price of $1.91 to settle $81,000 of debt. According to the company, the issuance was completed to preserve cash and reduce outstanding liabilities.

How does the NEXUF debt settlement affect the company's cash and liabilities?

The settlement preserves cash by converting $81,000 of debt into equity rather than paying cash. According to the company, this reduces existing liabilities and supports working capital during the near term.

Are the debt settlement shares issued by Nexus Uranium (NEXUF) restricted?

Yes. The 42,408 shares issued are subject to a four‑month hold period under Canadian securities laws and CSE policies. According to the company, the hold restricts immediate resale by the creditor.

Why did Nexus Uranium (NEXUF) choose to settle debt with shares instead of cash?

The company used share issuance to preserve cash for working capital needs and to improve its financial position by reducing liabilities. According to the company, this approach conserves liquidity while settling the outstanding obligation.

Will the NEXUF share issuance for debt settlement dilute existing shareholders?

Issuing 42,408 shares increases the share count and can cause dilution depending on total outstanding shares. According to the company, the issuance was intended to balance cash preservation with settling debt; dilution impact depends on the company's overall share base.