NexgenRx Announces Completion of $300,000 Unit Financing
November 01 2011 - 7:46PM
Marketwired
NEXGENRX INC. ("NexgenRx" or the "Corporation")(TSX VENTURE:NXG)
announces that it has completed a private placement financing of
1,200,000 units (each a "Unit") at a price of $0.25 per Unit for
aggregate gross proceeds of $300,000. Each unit consists of one
common share of the Corporation (a "Common Share") and one common
share purchase warrant (a "Warrant"). Each Warrant entitles the
holder to acquire one additional Common Share at a price of $0.30
for a period of 3 years from closing. The proceeds of this offering
will be used to repay outstanding indebtedness and to fund
marketing and sales development expenditures, ongoing software
development and for general working capital purposes. Four-month
hold periods apply to the securities issued under this offering in
accordance with applicable securities laws.
The Corporation further announces that Marvyn Lubek, Senior
Vice-President, Professional Relations and Corporate Secretary, is
no longer with the Company.
About NexgenRx
NexgenRx is a growing health benefits management company engaged
in the design, management and administration of health benefit
plans offered by employers and other plan sponsors for the benefit
of their employees and plan members. More information on NexgenRx
can be found at www.nexgenrx.com.
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Corporation. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the release.
Contacts: NexgenRx Inc. Ronald C. Loucks President and CEO (416)
695-3393 x 801 (647) 722-2920 (FAX)
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