– NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES –
Fredericton, New Brunswick, Jan. 23, 2025 (GLOBE NEWSWIRE) — NextGen Digital Platforms Inc. (CSE:NXT) (FSE:Z12) (“NextGen” or the “Company”) is pleased to announce, further to its news release of January 10, 2025, that the Company has completed the first tranche (the “First Tranche”) of its previously announced non-brokered private placement financing (the “Offering”). Pursuant to the First Tranche, the Company issued 633,750 units of the Company (the “Units”), at a price of $1.28 per Unit for gross proceeds of $811,200.
Each Unit consists of one common share in the capital of the Company (a “Share”) and one transferrable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share at an exercise price of $1.60 for a period of 24 months from the date of issuance.
In connection with the First Tranche, the Company paid finder’s fees to eligible finders consisting of $31,848 in cash and 24,631 common share purchase warrants (the “Finder’s Warrants”). Each Finder’s Warrant is exercisable to acquire one Share at an exercise price of $1.60 for a period of 24 months from the date of issuance.
The Company will use the net proceeds from the Offering for corporate development, marketing, and general working capital. All securities issued in connection with the First Tranche are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation ending on May 24, 2025.
The Company plans to complete a second tranche of the Offering in the coming weeks.
The Company is also pleased to announce, further to its news release dated December 20, 2024, that the Company has received approval from the Canadian Securities Exchange (“CSE”) for its proposed split of its Shares on the basis of 2 (two) post-split Shares for each issued and outstanding pre-split Share (the “Share Split”). The Company’s name and stock symbol are currently expected to remain unchanged following the Share Split. The Share Split will take effect on a record date to be announced in due course and after closing of the last tranche of the Offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
About NextGen Digital Platforms Inc.
NextGen Digital Platforms Inc. is listed on the Canadian Securities Exchange. The Company currently operates e-commerce platform PCSections.com (“PCS”) and a hardware-as-a-service business supporting the artificial intelligence sector, called cloud AI hosting (“Cloud AI Hosting”). Both PCS and Cloud AI Hosting were developed in-house by NextGen. The Company also intends to democratize access to cryptocurrencies by providing investors with exposure to a diversified basket of digital assets through a regulated public vehicle. From time to time, the Company also intends to evaluate and acquire or develop other micro-technology platforms.
For More Information:
Alexander Tjiang, Interim Chief Executive Officer
(416) 300-7398
https://nextgendigital.ca/
info@nextgendigital.ca
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This press release includes “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the completion of the Offering on the terms described herein and completion of the Share Split or at all, and the use of proceeds and available funds following the completion of the Offering, and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
