NuGen Announces Closing of First Tranche of Private Placement of Units

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Dec 29, 2022

TORONTO, ON / ACCESSWIRE / December 28, 2022 / NuGen Medical Devices Inc. (TSXV:NGMD, Financial)(OTCQB:NGMDF) ("NuGen'' or the "Company") announces that it has closed the first tranche of a non-brokered private placement through the issuance of 2,500,000 units ("Units") at a price of $0.05 per Unit for gross proceeds of $125,000 (the "Offering"). Each Unit is comprised of one common share ("Common Share") of the Company and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share for a period of sixty (60) months from the closing of the Offering at a price of $0.05 per Common Share. The proceeds of the offering will be used for general working capital purposes.