NuGen Closes Initial Round of Investment, Raises Funds Through Unit Placement

NuGen Medical Devices Inc. (TSXV:NGMD)(OTCQB:NGMDF) (“NuGen” or the “Company”) has successfully closed the first tranche of its non-brokered private placement, raising a total of $125,000 through the issuance of 2,500,000 Units at a price of $0.05 per Unit. Each Unit consists of one Common Share and one Warrant, allowing the holder to purchase one additional Common Share at the same price within sixty (60) months. The proceeds of the Offering will be used to bolster the Company’s working capital.

The Offering is subject to the approval of TSX Venture Exchange and all other necessary corporate and regulatory approvals. Once approved, securities issued in connection with the Offering will be locked in a four-month plus one day hold period as per applicable securities legislation. The Company may continue to close additional tranches of the Offering until January 23, 2023, up to an additional aggregate amount of $2,875,000.

We are delighted to present an exciting opportunity to invest in our securities, now available in select jurisdictions. Our securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state of the United States, and may not be offered or sold within the United States unless registered or exempt from such registration requirements. Don’t miss out on this chance to be part of something special!

The Company is pleased to announce that it has granted 2,000,000 options to purchase common shares of the Company exercisable at a price of $0.05 per common share for a five-year exercise period. These common shares, issuable upon exercise of the options, are subject to a four-month hold period from the original date of grant, providing a great opportunity for the consultant to benefit from the value of their work.

About NuGen Medical Devices

NuGen is revolutionizing the medical landscape with its cutting-edge needle-free technologies. Its InsuJet™ and PetJet™ injection systems are set to make life easier for millions of people and animals around the world. Approved in countries like Canada, NuGen’s products are paving the way for a more efficient and painless treatment of diabetes, veterinary medicine, and vaccines. By changing the way medical treatments are administered, NuGen is creating remarkable possibilities for the future of medicine.

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