NuGen Medical Devices Inc. Announces the Appointment of Richard Buzbuzian as President, CEO and Director

Toronto, Ontario–(Newsfile Corp. – February 22, 2023) – NuGen Medical Devices Inc. (TSXV: NGMD) (the “Company“) is pleased to announce that the Board of Directors has appointed Richard Buzbuzian as President, CEO and Director.

“InsuJet™, our needle-free injection device has tremendous sales opportunity globally and is approved for sale in 42 countries with active sales distribution agreements in 11. I look to complement our existing business with an expanded plan to monetize InsuJet sales with an ecommerce model, primarily B2C,” commented Mr. Richard Buzbuzian, NuGen’s President and CEO. “A particular region of initial interest for us is Europe where InsuJet is already approved for sale and a large TAM (total addressable market) is present, estimated to be upwards of 13B Euro for the diabetic market. Demand in this region could easily be met through an ecommerce model employing online purchasing with 3rd party shipping and fulfillment. A new method of deliver of care for diabetic patients using a historically proven ecommerce business model known for high volumes and high margins. I look forward to reporting more granularity on the roll out of this plan in the coming weeks ahead.

The Company wishes to thank Derek Lindsay who has resigned as interim CEO and as a director effective today. Mr. Lindsay has agreed to assist the Company in its transition period as a consultant until April 14th, 2023.

Bio: Richard Buzbuzian

Richard Buzbuzian is a capital markets executive with over 25 years of experience in Canada and Europe. Previously, Mr. Buzbuzian was President of Drone Delivery Canada (TSXV: FLT), which he cofounded, took public, and raised over Cdn$120M in equity financings achieving market capitalization in excess of $550M. Mr. Buzbuzian sits on the boards of several public, private, and non-profit organizations including Give-A-Mile and the Richard and Jacob Buzbuzian Family Foundation. He holds a degree from the University of Toronto.

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. NuGen continues to receive approval in numerous countries, including Canada. NuGen’s products are designed for use in several important areas including, but not limited to, diabetes, veterinary medicine, and vaccines.

For further information, please visit:

Twitter: @NuGenMD

For further information, please contact:

Richard Buzbuzian
President & CEO
(647) 501-3290

Notice Regarding Forward-Looking Information:

Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.

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.



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