NuGen Medical Devices Inc. announced non-brokered private placement of 2,500,000 units at an issue price of CAD 0.18 per unit for gross proceeds of CAD 450,000 on May 18, 2023. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of CAD 0.24 for a period of 24 months from the closing date of the offering. In connection with the closing of the offering, the company paid certain eligible persons a cash commission of CAD 31,470.35 in the aggregate and issued 174,835 broker warrants. Each broker warrant entitles the holder thereof to acquire one unit at a price of CAD 0.18 per unit for a period of two years from the date of issuance. The transaction is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 15 placees.