Next Gen Metals Closes First Tranche of Non-Brokered Private Placement
Next Gen Metals Inc. (CSE:N,OTC:NXTTF,FWB:M5BN) has closed the first tranche of its non‐brokered private placement. The placement was completed for gross proceeds of $255,000. Funds raised from the placement will be used for acquisitions, investments and working capital as well as to advance Next Gen’s GreenRush Financial Conference business.
As quoted in the press release:
The Company issued 3,187,500 units at a price of $0.08 per unit. Each unit consists of one common share (a “Common Share”) and one‐half of one non‐transferrable share purchase warrant (a “Warrant”). Each full Warrant entitles the holder to purchase one Common Share at a price of $0.16 per share during the first year and $0.20 per share during the second year. All securities issued are subject to a four month and a day hold period expiring on December 16, 2014.