Nexus changes name to Pacific Gold

Vancouver-based Nexus Resource (TSE) has changed its name to Pacific Gold Corp., and shareholders have approved a share consolidation on a 6-for-1 basis (6 Nexus for 1 Pacific). The consolidation brings the total amount of outstanding Pacific shares to just over three million, of which up to 50% will be issued through private placements. The new company will trade on both the Toronto and Vancouver stock exchanges.

For the remainder of the year, Pacific will concentrate on exploring the newly acquired French Creek property in Montana, where proven and probable reserves stand at 327,000 tons grading 0.32 oz. gold per ton.