Business
NEXE Cancels Investor Relations Agreements
NEXE Cancels Investor Relations Agreements Canada NewsWire VANCOUVER,...
About this update from Nexe Innovations Inc
[{"type":"text","content":"\n \n \n \n NEXE Cancels Investor Relations Agreements\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 2, 2021\n \n /CNW/\n \n -\n \n \n \n NEXE Innovations Inc.\n \n \n (\"NEXE\" or the \"Company\"), (TSXV: NEXE) (OTC Markets: NEXNF) (Frankfurt: NX5), a leader in plant-based materials manufacturing, provides an update relating to the termination of its previous engagement of Electrik Dojo LLC (\"Electrik Dojo\") and Gold Standard Media LLC (\"GSM\").\n \n \n \n \n \n \n \n \n \n The Company has terminated its investor relations agreement with Electrik Dojo, who was engaged on\n \n December 21, 2020\n \n to provide native advertising agency that facilitates market awareness of the Company.  The services were on an as needed basis and the Company paid Electrik Dojo a total of US\n \n $770,000\n \n (US\n \n $120,000\n \n on\n \n December 21, 2020\n \n , US\n \n $100,000\n \n on each of\n \n January 7, 2021\n \n ,\n \n January 26, 2021\n \n ,\n \n February 9, 2021\n \n and\n \n February 24, 2021\n \n ,\n \n March 10, 2021\n \n and US\n \n $150,000\n \n on\n \n March 25\n \n , 2021).  The Company terminated the investor relations agreement as it was unable to receive approval of their engagement from the TSX Venture Exchange.\n \n \n The Company has also terminated its engagement of GSM, effective immediately, as the Company was unable to receive approval of their engagement from TSX Venture Exchange.  As announced on\n \n March 31, 2021\n \n , the Company entered into an agreement with GSM dated\n \n December 17, 2020\n \n to raise awareness for the NEXE brand among consumers and the Company's shares among investors. The engagement was for an aggregate cost of CDN\n \n $350,000\n \n (which payment was made\n \n December 17, 2020\n \n ) for a term of twelve months.  An affiliate of GSM, Wallace Hill Partners Ltd. (\"Wallace Hill\"), purchased 1,100,000 units at\n \n $0.80\n \n per unit under the Company's private placement financing completed in December 2020.  As the investo...