TORONTO, ONTARIO--(Marketwire - May 6, 2010) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) announces that it has agreed to amend certain terms of its previously issued secured convertible debenture (aggregate principal amount of $500,000, issued April 2007) and has entered into an addendum with the holder of this debenture, the principal terms of which are:
- Extension of the maturity date by 6 months (from April 30, 2010 to October 12, 2010);
- Fixing the interest rate at 8%; and
- Fixing the conversion price at $0.35 (rather than having staged conversion prices, ranging from $0.35 in the first year following issuance to $0.45 during the third year following issuance).
The TSX Venture Exchange has approved this Addendum.
NexgenRx is a growing health benefits management company engaged in the design, management and administration of health benefit plans offered by employers and other plan sponsors for the benefit of their employees and plan members. More information on NexgenRx can be found at www.nexgenrx.com.
Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Corporation. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.