Buttered Rum Fudge

1 package butterscotch chips (11 ounce)
1 can vanilla frosting (16 ounce)
1/2 teaspoon rum extract
1/4 teaspoon nutmeg
3/4 cup chopped pecans

Line an 8-inch square pan with foil. Spray foil with nonstick cooking spray. Melt butterscotch chips in medium saucepan over low heat, stirring constantly. Remove from heat. Stir in all remaining ingredients until well mixed. Spread fudge in foil-lined pan. Refrigerate 1 hour or until firm. Use foil to lift candy. Remove foil; cut into 1-inch squares.