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NuGen M.D. Announces Closing of Debt Settlement
TORONTO, ON / ACCESSWIRE / February 2, 2022 / NuGen Medical Devices Inc. (TSXV:NGMD) (the ...
About this update from Nugen Medical Devices Inc
[{"type":"text","content":"NuGen M.D. Announces Closing of Debt SettlementTORONTO, ON / ACCESSWIRE / February 2, 2022 / NuGen Medical Devices Inc. (TSXV:NGMD) (the \"Company\") is pleased to announce that, further to its press release of January 20, 2022, it has settled an aggregate of $500,000 of indebtedness owed to an arm's length creditor (the \"Creditor\") with respect to royalty payments due to the Creditor through the issuance of an aggregate of 1,644,736 common shares (\"Common Shares\") of the Company at a price of $0.304 per Common Share (the \"Debt Settlement\"). The Company elected to settle the indebtedness through the issuance of Common Shares to preserve cash and improve the Company's balance sheet.The Debt Settlement has received all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. All Common Shares issued in connection with the Debt Settlement are subject to a statutory hold period expiring June 3, 2022 in accordance with applicable securities legislation.About NuGen Medical Devices:NuGen is an emerging specialty medical device company focused on developing and commercializing novel drug delivery technologies. NuGen's principal business is the development and commercialization of innovative needle-free injection devices and systems for the administration of subcutaneous medication. It is developing products using needle-free drug delivery technology in several important fields including, but not limited to, anaphylaxis, diabetes, severe migraine, erectile dysfunction, chronic anemia, neutropenia, autoimmune rheumatoid arthritis, growth and fertility hormone, psoriasis as well as DNA and conventional/pediatric vaccines.For further information, please visit:Website: www.nugenmd.comTwitter: @NuGenMDLinkedIn: https://www.linkedin.com/company/nugenmd/For further information, please contact:Michael WrightPresident and CEONuGen Medical Devices [email protected](514) 992-9484Investor Relations Contact:Kin Communications [email protected](604) 684-6730Notice Regarding Forward-Looking Information: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 statem...