NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

March 19, 2008 17:26 ET

NexgenRx Announces New Board Member and Option Grants

TORONTO, ONTARIO--(Marketwire - March 19, 2008) - NEXGENRX INC. (TSX VENTURE:NXG) ("NexgenRx" or the "Company") is pleased to announce the appointment of Mr. Patrick Crowley as a director of the Company.

Mr. Crowley is currently Executive Vice President and Chief Financial Officer of OMERS Administration Corporation after having served as CFO of several major Canadian corporations including, ATI Technologies, Canada Life Financial Corporation, Molson Inc., Abitibi Consolidated and Everfresh Beverages . He is a graduate of the Richard Ivey School of Business, a Chartered Accountant and a graduate of the Directors Education Program holding the designation of ICD.D. Mr. Crowley is a director of several not-for-profit corporations, private and public companies.

"We are thrilled to welcome Patrick to our board. With his extensive experience and varying roles with some of Canada's leading corporations, he is sure to be an invaluable asset to our team and we feel extremely fortunate to have his commitment to NexgenRx," stated Ron Loucks, President & Chief Executive Officer of NexgenRx.

"I am looking forward to working with the other members of the Board and the Management Team at NexgenRx as the Company embarks on its next phase of growth", Mr. Crowley stated.

The Company also announces the grant to certain directors, officers and employees of NexgenRx of an aggregate of 600,000 options to acquire common shares in the capital of NexgenRx at a price of $0.25 for 5 years (vesting in respect of options granted to officers and employees as to 20% each year for four years, beginning on the first anniversary of the grant date, and the final 20% on the date that is 90 days prior to the fifth anniversary of the grant date). The foregoing option grants are subject to final regulatory approval.

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.

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)
    or
    NexgenRx Inc.
    Jeff Dawley
    CFO
    (416) 695-3393 x 803
    (647) 722-2921 (FAX)