TORONTO, November 8, 2021 (Newswire.com) – NuGen Medical Devices Inc. (TSXV: NGMD) (“NuGen MD” or the “Company”), a leader in needle-free drug delivery, is pleased to announce that the Company’s common shares commenced trading on the TSX Venture Exchange (the “TSXV”) under the ticker symbol “NGMD” on Nov. 8, 2021.
NuGen MD specializes in creating needle-free drug delivery solutions for individuals who require medical injections. The Company’s needle-free solutions provide a more effective and safer alternative than traditional needle-based injections. It also offers cost savings over conventional needles and provides a more sustainable alternative.
Michael Wright, CEO of NuGen MD, said, “Today marks a historic milestone in the evolution of NuGen MD as we commence trading on the TSXV. This listing will help accelerate our ability to bring healthcare that is empowering, safe and respectful for those that need it most. We are focused on helping individuals receive drug administration in a safer and more cost-effective manner and believe that our technology can have a significant positive impact for patients and frontline workers alike while simultaneously increasing shareholder value and the long-term outlook of our business.”
Investor Relations and Market-Maker Update
The Company announces it has entered into an Investor Relations Agreement with Kin Communications Inc. (“Kin”). Under the terms of the Investor Relations Agreement with Kin, which is dated Nov. 8, 2021, Kin has agreed to assist Nugen MD with investor relations, including communicating with and marketing to potential investors, shareholders and media contacts for a period of twelve months and on a month-to-month basis thereafter. In consideration for the services, the Company has agreed to pay Kin $9,375 per month for the initial 12-month period. In addition, the Company has granted Kin stock options entitling it to purchase 750,000 of the Company’s common shares at a price of $0.40 per share with a five-year term, vesting in four equal instalments of 187,500 options, over a period of 12 months, with the first instalment vesting on the three-month anniversary of the issuance. The Company has been advised that Kin and its principals own 750,000 shares and 375,000 warrants of the Company. Kin is owned by President & CEO Arlen Hansen and has no direct relationship with the Company, other than as described in this news release.
The Company also discloses that it has retained Integral Wealth Securities Limited (“Integral”) to provide market making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. Integral will trade shares of NuGen MD on the TSXV with the objective of maintaining a reasonable market and improving the liquidity of Nugen MD’s common shares. Under the terms of the agreement, Integral will receive $6,000 per month for a period of 12 months.
For further information, please contact:
President and CEO
NuGen Medical Devices Inc.
Kin Communications Inc.
About NuGen Medical Devices:
NuGen Medical Devices is an emerging specialty medical device company focused on developing and commercializing novel drug delivery technologies. NuGen Medical Devices principal business is the research, development and commercialization of innovative needle-free injection devices and systems for the administration of subcutaneous medication.
Forward-Looking Information This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Company’s common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.