Under the Symbol:
Next Gen Announces $2,750,000 Private Placement
Friday, March 21, 2014 10:39 AM
Vancouver, British Columbia, Canada / ACCESSWIRE / Next Gen Metals Inc., ("Next Gen", the "Company") (CSE: N; OTC: NXTTF; Frankfurt: M5BN) is pleased to announce a non-brokered private placement of up to 5,000,000 units for gross proceeds of up to $2,750,000.
Each Unit ("Unit") at a price of $0.55 per unit will consist of one common share (a "Common Share") and one-half of one, non-transferrable share purchase warrant (a "Warrant"). Each full Warrant entitles the holder to purchase one Common Share at a price of $0.75 per share for a period of 12 months, subject to accelerated expiry, such expiry being accelerated to 30 days in the event the Company's shares have closed at or above a price of $1.10 per share for ten consecutive trading days.
The proceeds from the private placement will be used for acquisitions, investments and working capital to advance the company's initiatives in the Medical Marijuana, Industrial Hemp and Alternative Medicine industries as well as advancing the company's GreenRush Financial Conference business. The private placement and any finder's fees payable are subject to regulatory approval. Any securities issued pursuant to the offering shall be subject to a four month and a day hold period commencing on the closing date.
About Next Gen (CSE: N, OTC Pink: NXTTF, FSE: M5BN)
Next Gen is a diversified Canadian public company which focusses on investing in the Medical Marijuana, Industrial Hemp and Alternative Medicine sectors. Recent regulatory/legal changes in North America have provided an opportunity for the company to enter into this emerging multi-billion dollar industry. Next Gen's vision is to be the leading provider of venture capital, management expertise, education and a facilitator for this explosive new industry. (See press release dated February, 26 2014)
Our business model generates dozens of new business plans and industry related proposals on an ongoing basis. Management continues to receive and review the proposals from various segments of the industry including: alternative medicine, health, food, agri-business, legal grow-ops, technology, client generation, education, public awareness, specialty clinics and ancillary business opportunities. For further information, visit our website at www.nextgenmetalsinc.com.
On March 20, 2014 Next Gen announced that its wholly owned subsidiary GreenRush Financial Conferences (GreenRush), will conduct its first Medical Marijuana, Industrial Hemp and Alternative Medicine business conference in Vancouver on May 7, 2014. The conference will be held at the Vancouver Convention and Exhibition Centre, East, Pan Pacific Hotel, in ballroom A/B/C. GreenRush Financial Conferences will become the platform facilitating investment, education and business to business opportunities across the Medical Marijuana, Industrial Hemp and Alternative Medicine sectors. The conferences will feature insightful speakers, government and industry specialists, public and private companies, fund managers, bankers, brokers, analysts, and media representing all aspects of the industry. (See press release dated March 20, 2014).
In light of Next Gen's vision, Management's objective is to invest in a basket of companies within this growing industry. The company's business model continues to generate new business plans and project submittals 24/7.
For further information on GreenRush Financial Conferences please contact us by phone or at [email protected] or [email protected].
For further information on this Private Placement and general Investor Relations Inquiries please contact us by phone or email at [email protected].
Tel: +1 604 685 1870 Fax: +1 604 685 8045 Website: http://www.nextgenmetalsinc.com
650-555 West 12th Avenue, City Square, West Tower, Vancouver, B.C., Canada, V5Z 3X7
On behalf of the Board of Directors
President & CEO
FORWARD LOOKING INFORMATION
This News Release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This News Release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
The CSE has neither reviewed nor approved the contents of this News Release.