NextGen Digital's Successful Third Tranche Completion Announcement
NextGen Digital Completes Final Tranche of Private Placement
NextGen Digital Platforms Inc. (CSE:NXT) (OTCQB:NXTDF) (FSE:Z12), recently announced the successful completion of the third tranche of its private placement. This significant step follows previous updates from the Company and involves the issuance of special warrants that are crucial for their financial strategy.
Details of the Third Tranche
In this final tranche, NextGen Digital issued an impressive 2,468,032 special warrants priced at $0.30 each, leading to gross proceeds amounting to $740,409.74. This injection of capital plays a vital role in propelling the Company's developmental and operational objectives.
Finders Fees and Additional Warrants
To acknowledge the support from eligible finders in this round, NextGen Digital disbursed fees totaling $7,476.00 in cash, alongside 13,320 Finder’s Warrants. Each of these warrants can be exercised to obtain one common share at the same price, valid for two years. Such arrangements emphasize the Company’s commitment to fostering strong relationships within the investment community.
Offering Overview
Across the entire offering, a total of 8,979,498 special warrants and 440,000 common shares were issued, yielding an aggregate gross of $2,825,849.84. These proceeds, alongside a broader range of Finder’s Warrants, will considerably enhance the Company’s available capital for future endeavors and innovations.
Conversion of Special Warrants
One notable aspect of the special warrants involves their automatic conversion into common shares. This conversion is set to occur either three business days post-filing of a prospectus supplement, or four months after the closure of this offering. NextGen Digital aims to file this essential document promptly, ensuring compliance and transparency for its investors.
Future Plans for Proceeds
The Company has outlined strategic intentions for the net proceeds from this offering, targeting corporate development, elevating marketing efforts, and bolstering general working capital. This focus illustrates NextGen Digital's determination to use the funds wisely for long-term growth initiatives.
Marketing Agreement with Alpha Collective Inc.
Pursuing additional growth avenues, NextGen Digital has secured a marketing agreement with Alpha Collective Inc. This agreement includes a cash payment of $45,000 for a term lasting three months. The partnership is designed to enhance NextGen's digital marketing strategies, crucial for expanding its market presence.
Details on Alpha Collective Inc.
Communication with Alpha is facilitated through Mani Minhas, who can be reached at (236)-997-4461, thereby enabling potential inquiries regarding their services. The agreement represents an important step in scaling marketing efforts without issuing additional securities.
About NextGen Digital Platforms Inc.
NextGen Digital Platforms Inc. is a forward-thinking technology company, known for its e-commerce platform, PCSections.com, and its innovative hardware-as-a-service offerings. The Company is dedicated to democratizing access to cryptocurrencies and aims to create portfolios with diverse digital assets. Alongside this, NextGen maintains a keen interest in developing and acquiring promising micro-technology platforms.
Contact Information
For further inquiries, please contact Alexander Tjiang, the Interim Chief Executive Officer, at (416) 300-7398. Additional details are available on their official website.
Frequently Asked Questions
What is the purpose of the special warrants issued by NextGen Digital?
The special warrants are part of a private placement used to raise funds for corporate development and operational growth.
How many special warrants did NextGen Digital issue in the final tranche?
NextGen Digital issued 2,468,032 special warrants in the third and final tranche of the offering.
What does the conversion of special warrants into common shares entail?
The conversion occurs automatically under specified conditions, either after the filing of a prospectus supplement or after a designated time frame.
Who is Alpha Collective Inc. in relation to NextGen Digital?
Alpha Collective Inc. is a marketing firm engaged by NextGen Digital to enhance its digital marketing efforts through a service agreement.
What are the plans for the funds raised through the private placement?
The funds will be allocated for corporate development, marketing initiatives, and general operational needs.
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