NextGen Digital Platforms Inc. Closes Oversubscribed Private Placement
March 28 2024 - 8:10AM
NextGen Digital Platforms Inc. (“NextGen” or the “Company”) is
pleased to announce that it has closed an oversubscribed
non-brokered private placement (the “Financing”). The Company
issued 2,070,000 common shares (each, a “Share”), at a price of
CAD$0.10 per Share for gross proceeds of CAD$207,000.
Joel Freudman, President & CEO of NextGen,
remarked, “We are pleased to have successfully closed the Financing
despite generally challenging market conditions for venture-stage
companies, raising in excess of our fundraising target. This
achievement underscores the confidence investors have placed in our
vision and capabilities. The funds secured through the Financing
will bolster our financial position and support NextGen’s go-public
process, alongside investing more in our existing micro-technology
platforms PCSections.com and AI-as-a-Service (“AIaaS”).”
“The proceeds from the Financing will be
instrumental in further developing our tech businesses, both of
which are already revenue-generating,” added Kevin Zhou, NextGen’s
Director of Platforms and Marketing. “NextGen has an established
presence in e-commerce through PCSections.com, and a pathway to
rapid expansion in the booming artificial intelligence sector
through our AIaaS offering. Additionally, we are actively exploring
opportunities to collaborate with or acquire other platforms. This
infusion of capital enables us to continue our growth trajectory
and expand our footprint in the digital landscape.”
The securities issued pursuant to the Financing
have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or
any U.S. state securities laws, and may not be offered or sold in
the United States absent registration or an available exemption
from the registration requirement of the U.S. Securities Act and
applicable U.S. state securities laws. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of, such securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
About NextGen Digital Platforms
Inc.NextGen is on a mission to build long-term shareholder
value by developing and acquiring a variety of revenue-generating,
micro-technology platforms across a variety of industries that may
include artificial intelligence, e-commerce, software-as-a-service,
and Web3.
NextGen is a portfolio company of Resurgent
Capital Corp. (“Resurgent”), a merchant bank providing venture
capital markets advisory services and proprietary financing.
Resurgent works with promising public and pre-public
micro-capitalization companies listing on Canadian stock exchanges.
For more information on Resurgent and its portfolio companies,
please visit Resurgent’s website at
https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at
https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about NextGen, please
contact:
Joel FreudmanFounder, President & CEONextGen
Digital Platforms Inc.Phone: (647) 368-7789Email:
info@nextgendigital.caWebsite: https://nextgendigital.ca/
Cautionary Statements Regarding Forward-Looking Information
This press release contains certain
forward-looking statements, including those relating to the use of
proceeds from the Financing; the Company’s future development plans
for its PCSections.com and AIaaS businesses; and its strategic
plans, including potential acquisitions and go-public events. These
statements are based on numerous assumptions regarding the
Financing and the Company’s business plans that are believed by
management to be reasonable in the circumstances, and are subject
to a number of risks and uncertainties, including without
limitation: risk that the Company will not be able to raise
sufficient funds to carry out its business plans; technological and
business risks inherent in artificial intelligence, e-commerce, and
other emerging sectors that the Company may become involved in;
transaction execution risks; volatility in financial markets and
economic conditions; and regulatory approval processes. Actual
results may differ materially from results contemplated by the
forward-looking statements herein. Investors and others should
carefully consider the foregoing factors and should not place undue
reliance on such forward-looking statements. The Company does not
undertake to update any forward-looking statements herein except as
required by applicable securities laws.