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Fredericton, New Brunswick, May 08, 2025 (GLOBE NEWSWIRE) — NextGen Digital Platforms Inc. (CSE:NXT) (OTCQB:NXTDF) (FSE:Z12) (“NextGen” or the “Company”) announces, further to its news releases of April 1, 2025 and April 29, 2025, that the Company has completed the first tranche (the “First Tranche”) of its previously announced non-brokered private placement (the “Offering”). Pursuant to the First Tranche, the Company issued 3,118,366 special warrants (the “Special Warrants“) at the price of $0.30 per Special Warrant for gross proceeds of $935,510.00.
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The Company plans to complete a second tranche of the Offering next week.
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In connection with the First Tranche, the Company paid finder’s fees to eligible finders consisting of $5,390.70 in cash and 17,969 common share purchase warrants (the “Finder’s Warrants”). Each Finder’s Warrant is exercisable to acquire one common share of the Company at an exercise price of $0.30 per share for a period of 24-months.
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Each Special Warrant will automatically convert, for no additional consideration, into one common share in the capital of the Company (a “Share”) on the date that is the earlier of: (i) the date that is three business days following the date on which the Company files a prospectus supplement to a short form base shelf prospectus with the securities commissions qualifying distribution of the Shares underlying the Special Warrants (the “Prospectus Supplement“), and (ii) the date that is four months and one day after the closing of the Offering.
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The Company will use its commercially reasonable efforts to file the Prospectus Supplement within 60 days of the closing of the Offering (not including the date of closing), provided, however, that there is no assurance that a Prospectus Supplement will be filed with the securities commissions, prior to the expiry of the statutory four month hold period.
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All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on September 9, 2025.
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The Company will use the net proceeds from the Offering for corporate development, marketing, and general working capital.
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About NextGen Digital Platforms Inc.
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NextGen Digital Platforms Inc. (CSE: NXT) is a publicly traded company listed on the Canadian Securities Exchange, with a dual focus on digital assets and artificial intelligence infrastructure. The Company operates a hardware-as-a-service business supporting the artificial intelligence sector, known as cloud AI hosting (“Cloud AI Hosting”), delivering advanced infrastructure solutions for AI-driven applications. The Company also explores opportunities to acquire or develop emerging technology platforms that align with its strategic vision in digital innovation.
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For More Information:
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Alexander Tjiang, Interim Chief Executive Officer
(416) 300-7398
https://nextgendigital.ca/
[email protected]
English (US)