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NuGen Medical Devices Announces Approval Of Warrant Amendment Application

Thursday, September 29, 2022

NuGen Medical Devices Inc. announces that, further to its press release on September 15, 2022, the TSX Venture Exchange ("TSXV") has approved the Company's application to extend the expiry date and reduce the exercise price of an aggregate of 7,500,000 outstanding common share purchase warrants of the Company (the "Warrants").

The Company received approval from the TSXV to extend the expiry term of the Warrants for an additional 12 months from September 30, 2022 to September 30, 2023, and to amend the exercise price of the Warrants from $0.70 per Warrant to $0.40 per Warrant. All other provisions of the Warrants will remain the same.

The Company also announces that, further to its press release on September 8, 2022, its previously announced non-brokered private placement of 10% unsecured convertible debentures in the amount of $740,000 (the "Debenture Offering") which closed on September 8th, 2022 received final acceptance from the TSXV and no additional proceeds were raised under the Debenture Offering in any subsequent tranche.

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