Next Gen Closes Private Placement
September 30, 2014 (Source: Accesswire) — Next Gen Metals Inc., (“Next Gen”, the “Company”) (CSE: N; OTC: NXTTF; Frankfurt: M5BN) announces that it has closed its 2nd and final tranche of its private placement for gross proceeds of $44,000. The Company is pleased to report the private placement has been fully subscribed.
The Company issued 550,000 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. Finder’s fees were paid in connection with the financing in the amount of $1,200 and 15,000 finder’s warrants. The finder’s warrants are on the same terms as the financing Warrants. All securities issued are subject to a four month and a day hold period expiring on February 1, 2015.
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.
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 ww.nextgenmetalsinc.com .
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For further information on this Private Placement and general Investor Relations Inquiries please contact us by phone or email at firstname.lastname@example.org.
Tel: +1 604 685 1870 Fax: +1 604 685 8045 Website: http://www.nextgenmetalsinc.com
650-555 West 12th Avenue, City Square, West Tower, Vancouver, B.C., Canada, V5Z 3X7
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.
The CSE has neither reviewed nor approved the contents of this News Release.
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>