NexgenRx Inc.

NexgenRx Inc.

April 26, 2007 17:20 ET

NexgenRx Announces Debenture Issuance

TORONTO, ONTARIO--(CCNMatthews - April 26, 2007) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to announce that it has issued a convertible debenture in the aggregate principal amount of $500,000 (the "Debenture"). The Debenture has been issued to an arm's length party and is convertible (in whole or in part) into common shares in the capital of the Corporation at a price of $0.35, if converted on or before April 30, 2008; at a price of $0.40, if converted on or before April 30, 2009; and at a price of $0.45, if converted on or before April 30, 2010. The Debenture and any securities issuable upon conversion thereof is subject to a four-month hold period in accordance with applicable securities laws, which will expire on August 27, 2007.

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. NexgenRx provides an efficient, cost-effective alternative to insurers for those Canadian plan sponsors who are providing, or wish to provide, an adminstration services only, or "ASO" health benefit plan to their plan members. NexgenRx also provides a competitive alternative for the provision of health benefit claims adjudication services to third party administrators who manage and administer benefit plans on behalf of a number of plan sponsors and whose services to such plan sponsors include, but are not limited to, the adjudication and payment of health benefit claims made under the plans managed and administered by them.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • NexgenRx Inc.
    Ronald C. Loucks
    President and CEO
    (416) 695-3393 x 801
    (647) 722-2920 (FAX)
    NexgenRx Inc.
    Jeff Dawley
    VP Finance, CFO and Corporate Secretary
    (416) 695-3393 x 803
    (647) 722-2921 (FAX)