Fredericton, New Brunswick, Jan. 28, 2025 (GLOBE NEWSWIRE) — NextGen Digital Platforms Inc. (CSE:NXT) (FSE:Z12) (“NextGen” or the “Company”) is pleased to announce, due to significant market demand and further to its news release on January 10, 2025 and January 23, 2025, that it has increased the size of its previously announced non-brokered private placement from $1,000,000 to $1,200,000. The upsized offering (the “Offering”) will consist of up to 937,500 units of the Company (the “Units”) at a price of $1.28 per Unit for aggregate gross proceeds of up to $1,200,000.
Each Unit consists of one common share in the capital of the Company (a “Share”) and one transferrable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share at an exercise price of $1.60 for a period of 24 months from the date of issuance.
The Company may pay finder’s fees on the Offering within the amount permitted by the policies of the Canadian Securities Exchange (“CSE”). The Company will use the net proceeds from the Offering for corporate development, marketing, and general working capital.
The Company plans to complete a second tranche of the Offering in the coming weeks.
The Company is also pleased to announce, further to its news release on December 20,2024 detailing its expanded corporate strategy, that it has began the process of building a strategic position in Ripple (“XRP”). XRP, developed by Ripple Labs, is a high-speed, scalable, and decentralized public blockchain aiming to improve global payments by enabling faster, cheaper, and more reliable cross-border transactions. Unlike traditional payment systems, which in some case may take days to settle, XRP proposes to facilitate near-instantaneous transactions at a fraction of the cost(1).
NextGen views XRP as an important asset in the future of global institutional finance, offering shareholders exposure to a cryptocurrency that aims to bridge the gap between blockchain and traditional banking systems.
“We are excited to announce our decision to upsize the offering from $1.0 million to $1.2 million due to strong demand,” said Alexander Tjiang, Interim CEO of NextGen. “This financing underscores the confidence our investors have in our business strategy and growth potential. We are also excited to execute on our strategy of democratizing cryptocurrency investing and curating a portfolio of selected cryptocurrencies to maximize shareholder value. We look forward to continue driving forward with our strategy and participating in the potential of blockchain technology.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
About NextGen Digital Platforms Inc.
NextGen Digital Platforms Inc. (CSE: NXT) (FSE:Z12) is a publicly traded company listed on the Canadian Securities Exchange, with a dual focus on digital assets and artificial intelligence infrastructure. The Company is committed to democratizing access to cryptocurrencies by providing investors with exposure to a diversified basket of digital assets through a regulated public vehicle, offering a seamless entry into the growing cryptocurrency market. In parallel, NextGen 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.
For More Information:
Alexander Tjiang, Interim Chief Executive Officer
(416) 300-7398
https://nextgendigital.ca/
info@nextgendigital.ca
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This press release includes “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the completion of the Offering on the terms described herein, the Company’s ability to execute its cryptocurrency business strategy, and the use of proceeds and available funds following the completion of the Offering, and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
References to websites included in this news release are included as inactive textual references only, and the information contained on such websites are not incorporated by reference herein. The corporation assumes no responsibility for such information.
