NuGen Medical announces the appointment of Tony Di Benedetto as Executive Chairman and Director
Toronto, Ontario – Feb 28, 2023 – Toronto, Ontario – NuGen Medical Devices Inc. (TSXV: NGMD) (the “Company” or “NuGen“) is pleased to announce that the Board of Directors has appointed Mr. Tony Di Benedetto as Executive Chairman and Director.
“I was approached by NuGen’s new CEO, Richard Buzbuzian, who I had tremendous success with having built Drone Delivery Canada together from inception to then being named in 2021 the Best 50 top-preforming companies traded on the OTCQX Best Market. So, when Richard asked me to join NuGen, I immediately looked deeper into the Company and quickly saw that all pieces were in place for success; they just need to be re-organized. This fits perfectly with my past business expertise. Opportunity accepted!” commented Tony Di Benedetto.
“Tony and I have worked very successfully together for over 10 years now”, commented Richard Buzbuzian, President and CEO. “Tony’s tech savvy business acumen is the perfect addition as we look to help millions of diabetic’s better mange their care. Help millions, make millions, a philosophy both Tony and I share which has led us to great success. On behalf of NuGen and team, I welcome Tony as the Company’s new Executive Chairman”.
Tony Di Benedetto, Executive Chairman, Director
Tony Di Benedetto is a Canadian technology entrepreneur with over 30 years of hands-on experience in building, operating, and divesting technology companies. Most recently, Mr. Di Benedetto was the co-founder of Drone Delivery Canada Corp., which he took public and successfully raised over $120M in equity financing. Mr. Di Benedetto has also co-founded several technology companies including Data Centers Canada – a colocation data center facility in Vaughan, Ontario – which he later sold to Terago Networks. Other technology enterprises Mr. Di Benedetto developed include system integration/managed services businesses, hosting, and one of southern Ontario’s largest fixed wireless broadband networks, all of which he successfully divested. Mr. Di Benedetto holds a degree from York University.
Stock Option Grant
The Company’s board of directors has granted 5,925,000 stock options to purchase common shares of the Company exercisable at a price of $0.20 per common share and expiring on February 28, 2028 to certain directors, officers and consultants of the Company. The common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.
Agreement with bullVestor Medien GmbH
The Company announces that it has engaged bullVestor Medien GmBH (“bullVestor”) and its general manager, Helmut Pollinger, both arm’s-length parties to the Company, to provide digital marketing services to the Company for a term ending in June 2023. The services will include the creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns. In consideration for providing the services, the Company has agreed to pay bullVestor $500,000. Consideration offered to bullVestor does not include any securities of the Company. Aside from this engagement, the Company does not have any relationship with bullVestor.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
About NuGen Medical Devices
NuGen is an emerging specialty medical device company developing the next generation of needle-free technologies and other innovative medical delivery products. The company’s products, which include the InsuJet™ and PetJet™ needle-free injection systems, are designed to improve the lives of millions of people and animals. NuGen continues to receive approval in numerous countries, including Canada. NuGen’s products are designed for use in several important fields including, but not limited to, diabetes, veterinary medicine, and vaccines.
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This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.