Nextgen Food Robotics Corp announced a non-brokered private placement of up to 2,500,000 units at a price of CAD 0.60per Unit, for aggregate gross proceeds of up to CAD 1,500,000 on July 17, 2023. Each Unit will be composed of one common share and one-half of one common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one additional Share at a price of CAD 0.70 per Warrant Share for a period of 12 months from the closing date of the transaction.

The company reserved the price for the Offering by filing a price reservation form with the NEO Exchange on June 15, 2023. In connection with the transaction, the company may pay certain finders a cash commission and/or issue such Finders non-transferable share purchase warrants, in accordance with the NEO's policies. The transaction is expected to close on or around July 24, 2023.

The transaction is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the NEO Exchange.