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FREDERICTON, New Brunswick, March 28, 2024 (GLOBE NEWSWIRE) -- NextGen Digital Platforms Inc. (“NextGen” or the “Company”) is pleased to announce that it has closed an oversubscribed non-brokered private placement (the “Financing”). The Company issued 2,070,000 common shares (each, a “Share”), at a price of CAD$0.10 per Share for gross proceeds of CAD$207,000.
Joel Freudman, President & CEO of NextGen, remarked, “We are pleased to have successfully closed the Financing despite generally challenging market conditions for venture-stage companies, raising in excess of our fundraising target. This achievement underscores the confidence investors have placed in our vision and capabilities. The funds secured through the Financing will bolster our financial position and support NextGen’s go-public process, alongside investing more in our existing micro-technology platforms PCSections.com and AI-as-a-Service (“AIaaS”).”
“The proceeds from the Financing will be instrumental in further developing our tech businesses, both of which are already revenue-generating,” added Kevin Zhou, NextGen’s Director of Platforms and Marketing. “NextGen has an established presence in e-commerce through PCSections.com, and a pathway to rapid expansion in the booming artificial intelligence sector through our AIaaS offering. Additionally, we are actively exploring opportunities to collaborate with or acquire other platforms. This infusion of capital enables us to continue our growth trajectory and expand our footprint in the digital landscape.”
The securities issued pursuant to the Financing have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About NextGen Digital Platforms Inc.
NextGen is on a mission to build long-term shareholder value by developing and acquiring a variety of revenue-generating, micro-technology platforms across a variety of industries that may include artificial intelligence, e-commerce, software-as-a-service, and Web3.
NextGen is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about NextGen, please contact:
Joel Freudman
Founder, President & CEO
NextGen Digital Platforms Inc.
Phone: (647) 368-7789
Email: info@nextgendigital.ca
Website: https://nextgendigital.ca/
Cautionary Statements Regarding Forward-Looking Information
This press release contains certain forward-looking statements, including those relating to the use of proceeds from the Financing; the Company’s future development plans for its PCSections.com and AIaaS businesses; and its strategic plans, including potential acquisitions and go-public events. These statements are based on numerous assumptions regarding the Financing and the Company’s business plans that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: risk that the Company will not be able to raise sufficient funds to carry out its business plans; technological and business risks inherent in artificial intelligence, e-commerce, and other emerging sectors that the Company may become involved in; transaction execution risks; volatility in financial markets and economic conditions; and regulatory approval processes. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
