NuGen Medical Devices Inc. announced a non-brokered private placement of up to 20,000,000 units at a price of CAD 0.18 per unit for the aggregate gross proceeds of CAD 3,600,000 on March 31, 2023. Each unit will be comprised of one common share in the capital of the company and one common share purchase warrant exercisable at a price of CAD 0.24 per common share for a period of 24 months from the date of issuance. The Company may pay certain eligible persons a cash commission equal to 8% of the gross proceeds of the offering.

Closing of the offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture exchange. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. he closing of transaction is subject to approval from TSX venture exchange.