Nexus Uranium Announces Debt Settlement

Rhea-AI Summary

Nexus Uranium (OTCQB: NEXUF) announced a debt settlement to resolve $81,000 of outstanding obligations by issuing approximately 42,408 common shares at a deemed price of $1.91 per share. The settlement aims to preserve cash for working capital and reduce liabilities.

Completion is subject to customary closing conditions and applicable regulatory approvals, including compliance with Canadian Securities Exchange policies. The shares will carry a four‑month hold period under Canadian securities laws.

Positive

• Reduces liabilities by $81,000 through equity issuance
• Preserves cash for working capital by avoiding cash repayment

Negative

• Issuance of approximately 42,408 shares causes shareholder dilution
• Transaction subject to regulatory approvals and customary closing conditions

Vancouver, British Columbia--(Newsfile Corp. - February 10, 2026) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: NEXUF) (FSE: JA7 ("Nexus" or the "Company") announces that it has entered into a debt settlement agreement with a certain arm's length creditor to settle $81,000 in outstanding debt (the "Debt Settlement"). Pursuant to the Debt Settlement, the Company has agreed to issue approximately 42,408 common shares of the Company at a deemed price of $1.91 to the arm's length creditor.

The Company intends to complete 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 is expected to close shortly, subject to customary closing conditions, including, but not limited to, finalizing all contractual documentation and receipt of all applicable regulatory approvals, as applicable, including compliance with the policies of the Canadian Securities Exchange (the "CSE").

The Debt Settlement shares will be subject to a four month hold period in accordance with applicable Canadian securities laws and the policies of the CSE.

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

Forward-Looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to: the completion of the Debt Settlement on the terms and timing described herein, the receipt of required regulatory approvals and the intended benefits of the Debt Settlement. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipates", "anticipated" "expected" "intends" "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) 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/283446

FAQ

What did Nexus Uranium (NEXUF) announce on February 10, 2026 about debt settlement?

The company agreed to settle $81,000 of debt by issuing about 42,408 common shares at a deemed price of $1.91. According to the company, the move is intended to preserve cash and reduce existing liabilities while subject to regulatory approvals.

How many shares will NEXUF issue to settle the $81,000 debt and at what price?

Nexus Uranium will issue approximately 42,408 common shares at a deemed price of $1.91 per share. According to the company, the issuance is part of a debt settlement with an arm's length creditor and is subject to closing conditions.

What is the investor impact of Nexus Uranium's debt settlement for NEXUF shareholders?

The immediate impact is potential shareholder dilution from the 42,408-share issuance. According to the company, the tradeoff preserves cash for working capital and reduces liabilities, with shares subject to a four-month hold period under Canadian law.

When will Nexus Uranium’s debt settlement close and are approvals required for NEXUF?

The debt settlement is expected to close shortly but remains subject to customary closing conditions and regulatory approvals. According to the company, completion requires finalizing documentation and CSE compliance before issuance of the settlement shares.

Are the debt settlement shares from Nexus Uranium (NEXUF) restricted for trading?

Yes, the debt settlement shares will be subject to a four-month hold period under applicable Canadian securities laws. According to the company, this restriction aligns with CSE policies and standard securities law requirements for such issuances.