- NuGen Medical Devices (NGMD) has announced a new non-brokered private placement financing for gross proceeds of up to $2,500,000
- The company will issue up to 50,000,000 units for $0.05 per unit
- The company has also closed a non-brokered private placement of units for gross proceeds of $125,000
- NuGen also announced several corporate updates
- NuGen Medical Devices is an emerging specialty medical device company developing needle-free technologies and other innovative medical delivery products
- Nugen Medical Devices Inc. was up 40 per cent, trading at $0.07 at 10:09 AM ET
NuGen Medical Devices (NGMD) has announced a non-brokered private placement for gross proceeds of up to $2,500,000.
The company will offer up to 50,000,000 units priced at $0.05 per unit. Each unit will consist of one common share and one common share purchase warrant exercisable at a price of $0.05 per common share for a period of 24 months from the date of issuance.
Before kicking off the new offering, the company closed a previous non-brokered private placement raising gross proceeds of $125,000.
Net proceeds raised from both offerings will be used for working capital and general corporate purposes.
The company has announced the appointment of Richard Buzbuzian as President and Chief Executive Officer, replacing Derek Lindsay. Richard Buzbuzian is a capital markets executive with over 25 years of investment experience in Canada and Europe.
William Cleman has resigned as a director and will be replaced by Philip Cortese.
Veronique Laberge will as CFO and Corporate Secretary of the company effective January 31, 2023.
NuGen Medical Devices is an emerging specialty medical device company developing needle-free technologies and other innovative medical delivery products.
Nugen Medical Devices Inc. was up 40 per cent, trading at $0.07 at 10:09 AM ET.