NextGen Digital Platforms Inc. (CSE:NXT) (FSE:Z12) recently announced the completion of the first tranche of its non-brokered private placement financing. The Company issued 633,750 units at a price of $1.28 per unit, generating gross proceeds of $811,200. Each unit comprises one common share and one transferable common share purchase warrant, allowing the holder to purchase an additional share at $1.60 within 24 months.
In addition to the issuance of units, the Company paid finder’s fees totaling $31,848 in cash and provided 24,631 finder’s warrants. These warrants are exercisable to acquire one share at $1.60 within 24 months. The net proceeds from the offering will be utilized for corporate development, marketing, and general working capital purposes. All securities issued are subject to a statutory hold period of four months plus a day.
NextGen plans to complete a second tranche of the offering in the near future. Furthermore, the Company received approval from the Canadian Securities Exchange for a share split, where each pre-split share will be split into two post-split shares. The share split will take effect after the last tranche of the offering and will not affect the Company’s name or stock symbol.
NextGen Digital Platforms Inc. operates e-commerce platform PCSections.com (PCS) and provides hardware-as-a-service for the artificial intelligence sector through Cloud AI Hosting. The Company aims to democratize access to cryptocurrencies by offering investors exposure to a diversified basket of digital assets. Additionally, NextGen will evaluate and acquire micro-technology platforms as part of its growth strategy.
For more information, interested parties can contact Alexander Tjiang, Interim Chief Executive Officer at (416) 300-7398 or visit NextGen Digital Platforms Inc.’s website. The Company cautions investors that forward-looking statements involve risks and uncertainties, and actual events may differ from projections. The Company undertakes no obligation to update forward-looking statements.
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