TORONTO, ON / ACCESSWIRE / September 28, 2022 / NuGen Medical Devices Inc. (TSXV:NGMD) (the 'Company') announces that, further to its press release on September 15, 2022, the TSX Venture Exchange ('TSXV') has approved the Company's application to extend the expiry date and reduce the exercise price of an aggregate of 7,500,000 outstanding common share purchase warrants of the Company (the 'Warrants').
The Company received approval from the TSXV to extend the expiry term of the Warrants for an additional 12 months from September 30, 2022 to September 30, 2023, and to amend the exercise price of the Warrants from $0.70 per Warrant to $0.40 per Warrant. All other provisions of the Warrants will remain the same.
The Company also announces that, further to its press release on September 8, 2022, its previously announced non-brokered private placement of 10% unsecured convertible debentures in the amount of $740,000 (the 'Debenture Offering') which closed on September 8th, 2022 received final acceptance from the TSXV and no additional proceeds were raised under the Debenture Offering in any subsequent tranche.
About NuGen Medical Devices
NuGen is an emerging specialty medical device company developing the next generation of needle-free technologies and other innovative medical delivery products. The company's products, which include the InsuJet™ and PetJet™ needle-free injection systems, are designed to improve the lives of millions of people and animals. NuGen continues to receive approval in numerous countries, including Canada. NuGen's products are designed for use in several important fields including, but not limited to, diabetes, veterinary medicine, and vaccines.
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SOURCE: NuGen Medical Devices
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