NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

March 29, 2012 18:08 ET

NexgenRx Announces 2011 Annual Results

TORONTO, ONTARIO--(Marketwire - March 29, 2012) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to announce its 2011 annual results.

Revenue from transaction fees for the year ended December 31, 2011 was $3,953,723 representing an increase of 12% over the prior year.

The net loss for the year was $616,253 ($0.01 per common share) compared with a loss of $807,017 ($0.02 per common share) in the prior year.

"2011 was a year of significant accomplishments focused on new product development, organic growth and continued balance sheet improvement.We continued to see new business as a result of NexAdmin®, our fully web-based administration platform, which provides plan sponsors with superior administrative functionality and complete control of their own data, independent of any insurance carrier." stated Ron Loucks, President and CEO.

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 x801

    NexgenRx Inc.
    Taba Merrikh
    Director of Finance
    416-695-3393 x803
    www.nexgenrx.com