NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

September 23, 2010 14:34 ET

NexgenRx Announces Completion of $300,000 Financing and Preferred Share Conversion

TORONTO, ONTARIO--(Marketwire - Sept. 23, 2010) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) announces that it has completed a private placement financing of 1,200,000 common shares (each a "Common Share") at a price of $0.25 per Common Share for aggregate gross proceeds of $300,000. The proceeds from this offering will be used to fund marketing and sales development expenditures, ongoing software development and for general working capital purposes. Hold periods will apply to the securities issued under this offering in accordance with applicable securities laws.

The Corporation also announces that all 750,000 of its previously outstanding Class E Preferred Shares have automatically converted into an aggregate of 684,318 Common Shares in accordance with their initial terms of issuance.

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 x 801
    (647) 722-2920 (FAX)
    www.nexgenrx.com