Proceeds used to pay off C$2 million convertible secured debentures
By Devika Patel
Knoxville, Tenn., Nov. 29 - NexgenRx Inc. said it settled a non-brokered private placement of units. The company raised C$1.55 million on Nov. 26.
The company sold 5,166,833 units of one common share and one half-share warrant at C$0.30 apiece.
Each whole warrant is exercisable at C$0.35 for three years. The strike price represents a 20.69% premium to the closing share price of C$0.29 on Nov. 25.
Proceeds will be used to repay the company's C$2 million convertible secured debentures, for marketing and sales development expenditures, ongoing software development and general working capital purposes.
Toronto-based NexgenRx is a health benefits management company.
| Issuer: | NexgenRx Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,550,050
|
| Units: | 5,166,833
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Settlement date: | Nov. 26
|
| Stock symbol: | TSX Venture: NXG
|
| Stock price: | C$0.29 at close Nov. 26
|
| Market capitalization: | C$13.23 million
|
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