CEO Harry Barr Acquires 1,250,000 Units of Next Gen Metals
Next Gen Metals Inc. (CSE:N,OTC:NXTTF,FWB:M5BN) reported today that Harry Barr, its president, CEO and director, has acquired 1,250,000 units of the company at a price of $0.08 per unit. The purchase was pursuant to a private placement transaction, and FronTier Consulting Ltd. has also acquired 1,750,000 units of Next Gen at the same price.
As quoted in the press release:
Prior to this acquisition, Harry held 3,033,946 common shares and 213,333 options of the Company, representing approximately 15.33% of the Company’s issued and outstanding shares on a post-conversion beneficial ownership basis, prior to the closing of the private placement. As a result of Mr. Barr’s acquisition pursuant to the private placement, Mr. Barr now holds 4,301,946 common shares and 833,333 warrants and options of the Company, representing approximately 23.57% of the Company’s current issued and outstanding shares of the Company on a post-conversion beneficial ownership basis. These shares of the Company are held directly and indirectly by Mr. Barr.