NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

June 15, 2015 09:00 ET

NexgenRx Announces Debenture Repayment and Private Placement Financing

TORONTO, ONTARIO--(Marketwired - June 15, 2015) - NEXGENRX INC. (TSX VENTURE:NXG) ("NexgenRx" or the "Corporation") announces that its previously issued $500,000 principal amount convertible debenture due June 12, 2015, has been re-paid in full. The Corporation has arranged an interim shareholder demand loan to facilitate the repayment, which it expects to repay with the proceeds of a private placement that it has arranged. Under the private placement, the Corporation expects to raise gross proceeds of $500,000 through the issuance of units at a price of $0.17 per unit. Each unit will be comprised of one common share of the Corporation and one-half of one common share purchase warrant, with each whole warrant being exercisable into one common share at a price of $0.20 for a period of two years.

"By extinguishing the debt owing under the debenture we have continued to clean up our Balance Sheet. I wish to thank the shareholders and the debentureholder for their continued support and confidence," stated Ron Loucks, President & CEO.

About NexgenRx

NexgenRx is Canada's leading independent health benefits plan administrator, providing proprietary on-line claims adjudication and web-based solutions to effectively manage benefits costs for plan sponsors and their 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
    416-695-3393x803
    www.nexgenrx.com