NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

November 26, 2013 18:19 ET

NexgenRx Amends Debenture Terms and Confirms Extension of Warrants

TORONTO, ONTARIO--(Marketwired - Nov. 26, 2013) - NEXGENRX INC. (TSX VENTURE:NXG) ("NexgenRx" or the "Corporation") announces that it has agreed to amend the terms of its currently outstanding convertible debenture (the "Debenture"). The Debenture was issued in April 2012 in the principal amount of $500,000 and was set to expire on November 26, 2013. The Debenture has been amended to extend the maturity date to December 12, 2013 and to amend the conversion price from $0.30 to $0.20 per common share. The TSX Venture Exchange has approved these amendments to the terms of the Debenture.

In addition, the Corporation confirms that the TSX Venture Exchange has approved its previously announced application to extend the term of all outstanding common share purchase warrants granted pursuant to the Corporation's private placement that closed on November 26, 2010 (the "Warrants") from thirty-six (36) months to sixty (60) months from the date of issuance in accordance with Exchange policies. The Warrants that are the subject of this extension consist of an aggregate of 2,583,416 Warrants, each with an exercise price of $0.35 per Warrant. The foregoing Warrants were set to expire on November 26, 2013 and the expiry date has been extended to November 26, 2015.

About NexgenRx

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.

Contact Information

  • NexgenRx Inc.
    Ronald C. Loucks
    President and CEO
    416.695.3393 ext. 801

    NexgenRx Inc.
    Taba Merrikh
    Director of Finance
    416-695-3393 ext. 803
    www.nexgenrx.com