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NexgenRx Announces Completion of $300,000 Unit Financing |
November 02, 2011
TORONTO, ONTARIO--(Marketwire - Nov. 1, 2011) - 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.
http://www.marketwire.com/mw/release.do?id=1580746&sourceType=3
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