Next Gen Closes 1st tranche of its Private Placement
August 15, 2014 (Source: Accesswire) — Next Gen Metals Inc., (“Next Gen”, the “Company”) (CSE: N; OTC: NXTTF; Frankfurt: M5BN) announces that it has closed the first tranche of its non-brokered private placement for gross proceeds of $255,000.
The Company issued 3,187,500 units at a price of $0.08 per unit. Each unit consists of one common share (a “Common Share”) and one-half of one non-transferrable share purchase warrant (a “Warrant”). Each full Warrant entitles the holder to purchase one Common Share at a price of $0.16 per share during the first year and $0.20 per share during the second year. All securities issued are subject to a four month and a day hold period expiring on December 16, 2014.
The proceeds from the private placement will be used for acquisitions, investments and working capital to advance the company’s initiatives in the Medical Marijuana, Industrial Hemp and Alternative Medicine industries as well as advancing the company’s GreenRush Financial Conference business.
About Next Gen
(CSE: N, OTC Pink: NXTTF, FSE: M5BN)
Next Gen is a diversified Canadian public company which focuses on investing in the Medical Marijuana, Industrial Hemp and Alternative Medicine sectors. Recent regulatory/legal changes in North America have provided an opportunity for the company to enter into this emerging multi‐billion dollar industry. Next Gen’s vision is to be the leading provider of venture capital, management expertise, education, brokerage and consultancy solutions and a facilitator for these explosive new industries.
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Next Gen’s business model generates new industry business proposals and plans on a continuous basis. To that end, Management is currently negotiating with a number of companies who are interested in entering into contractual arrangements to co‐venture, co‐finance, and option‐joint venture on one or more of Next Gen’s large inventory of business opportunities and existing 100% owned companies and projects in these multi‐billion dollar industries. For further information on the company, visit our website at www.nextgenmetalsinc.com .
On behalf of the Board of Directors
President & CEO
FORWARD LOOKING INFORMATION
This News Release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.
This News Release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>