NuGen Announces Results of Special Meeting and Appointment of New Directors
NuGen Medical Devices shareholders have approved Sol-Millennium Medical HK and Nature Health Development as new Control Persons, following their acquisition of C$10 million in convertible debentures. The approval was secured with 99.93% of votes in favor. The company announced two new board appointments: Arvind Rai, a financial executive with over 20 years of experience, and Louise Cresswell, NuGen's Commercial and Clinical Lead since April 2023. Additionally, Richard Buzbuzian has stepped down as director and president but will continue as a consultant.
Gli azionisti di NuGen Medical Devices hanno approvato Sol-Millennium Medical HK e Nature Health Development come nuovi Persone di Controllo, in seguito all'acquisizione di obbligazioni convertibili per un valore di 10 milioni di dollari canadensi. L'approvazione è stata ottenuta con il 99,93% dei voti a favore. L'azienda ha annunciato due nuove nomine nel consiglio: Arvind Rai, un dirigente finanziario con oltre 20 anni di esperienza, e Louise Cresswell, Responsabile Commerciale e Clinico di NuGen da aprile 2023. Inoltre, Richard Buzbuzian si è dimesso da direttore e presidente, ma continuerà come consulente.
Los accionistas de NuGen Medical Devices han aprobado a Sol-Millennium Medical HK y Nature Health Development como nuevas Personas de Control, tras la adquisición de 10 millones de dólares canadienses en obligaciones convertibles. La aprobación se obtuvo con el 99,93% de los votos a favor. La empresa anunció dos nuevos nombramientos en la junta: Arvind Rai, un ejecutivo financiero con más de 20 años de experiencia, y Louise Cresswell, Líder Comercial y Clínica de NuGen desde abril de 2023. Además, Richard Buzbuzian ha renunciado como director y presidente, pero continuará como consultor.
NuGen Medical Devices의 주주들은 솔-밀레니엄 메디컬 HK와 네이처 헬스 개발을 새로운 관리자로 승인했습니다. 이들은 1천만 캐나다 달러 규모의 전환 사채를 인수했습니다. 이 승인에는 99.93%의 찬성 투표가 있었습니다. 회사는 두 명의 새로운 이사회를 발표했습니다: Arvind Rai, 20년 이상의 경력을 가진 금융 임원, 그리고 Louise Cresswell, 2023년 4월부터 NuGen의 상업 및 클리닉 책임자입니다. 또한, Richard Buzbuzian은 이사 및 회장직에서 사퇴했지만, 컨설턴트로서 계속 활동할 것입니다.
Les actionnaires de NuGen Medical Devices ont approuvé Sol-Millennium Medical HK et Nature Health Development comme nouvelles Personnes de Contrôle, suite à leur acquisition de 10 millions de dollars canadiens en obligations convertibles. L'approbation a été obtenue avec 99,93 % des voix en faveur. L'entreprise a annoncé deux nouveaux membres au conseil d'administration : Arvind Rai, un cadre financier avec plus de 20 ans d'expérience, et Louise Cresswell, Responsable Commerciale et Clinique de NuGen depuis avril 2023. De plus, Richard Buzbuzian a démissionné de son poste de directeur et président mais continuera en tant que consultant.
Die Aktionäre von NuGen Medical Devices haben Sol-Millennium Medical HK und Nature Health Development als neue Kontrollpersonen genehmigt, nachdem sie 10 Millionen kanadische Dollar in wandelbaren Anleihen erworben haben. Die Genehmigung wurde mit 99,93% der Stimmen im Favor abgerufen. Das Unternehmen gab zwei neue Aufsichtsratsmitglieder bekannt: Arvind Rai, ein Finanzmanager mit über 20 Jahren Erfahrung, und Louise Cresswell, die seit April 2023 die Handels- und Klinikleitung von NuGen übernimmt. Zudem hat Richard Buzbuzian sein Amt als Direktor und Präsident niedergelegt, wird jedoch weiterhin als Berater tätig sein.
- Secured C$10 million through convertible debentures
- 99.93% shareholder approval for new Control Persons
- Addition of experienced financial executive to board
- Strengthened commercial leadership with UK market expert
- Departure of company president and director
- Potential significant shareholder dilution upon debenture conversion
Toronto, Ontario--(Newsfile Corp. - November 14, 2024) - NuGen Medical Devices Inc. (TSXV: NGMD) (the "Company" or "NuGen") a leading developer of needle-free devices to administer therapeutics subcutaneously, is pleased to announce that its shareholders have approved Sol-Millennium Medical HK Limited ("Sol-M") and Nature Health Development (Hong Kong) Co. Limited ("Nature Health") as new Control Persons (as defined in the policies of the TSX Venture Exchange) of the Company.
On September 20, 2024, Sol-M and Nature Health acquired an aggregate of C
With an aggregate of 23,139,808 votes in favour (
Concurrently, the shareholders approved the appointment of Arvind Rai, a nominee of Sol-M and Nature Health, as a director of the Company. Mr. Rai is a seasoned financial executive with over twenty years of experience in steering business and financial strategies within the global manufacturing and healthcare sectors. He possesses extensive international expertise in financial reporting, planning, internal controls, audits, and fraud investigations.
NuGen further announces the appointment of Louise Cresswell to its board of directors. Ms. Cresswell has been NuGen's Commercial and Clinical Lead since April 2023, leading commercial activities and successfully accelerating the growth of the Company's activities in the UK market. Ms. Cresswell has an extensive background working in the UK health sector both as a registered nurse and in commercial, sales and marketing roles with international manufacturers and suppliers of medical technologies.
Karen Dunlap, Interim Chief Executive Officer of NuGen, commented: "We are thrilled to announce the incorporation of Arvind Rai and Louise Cresswell to the board of directors. Their expertise and experience will be critical for the Company's business plans and commercial development as the Company works to open new distribution channels and markets."
The Company also wishes to announce the departure of Mr. Richard Buzbuzian as a director and president of the Company. Since his appointment, Mr. Buzbuzian played a key role in the Company's restructuring and strategic planning and has been instrumental in the Company's recent commercial success. The board of directors would like to thank him for his contributions. Mr. Buzbuzian remains active with NuGen in a consultant role.
About NuGen
NuGen is a leading developer of needle-free devices to administer therapeutics subcutaneously. The Company is marketing and selling its next-generation InsuJet™ needle-free injection system designed to improve the lives of millions of diabetics. InsuJet™ is approved for sale in 42 countries around the world.
For further information, please visit:
Websites: www.insujet.com, and www.nugenmd.com
Instagram: @NuGenMD
Twitter: @NuGenMD
LinkedIn: https://www.linkedin.com/company/nugenmd/
For further information, please contact:
Karen Dunlap, Interim Chief Executive Officer
(404) 386-0955
kdunlap@nugenmd.com
Notice Regarding Forward-Looking Information:
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229968
FAQ
What was the value of convertible debentures acquired by Sol-M and Nature Health in NuGen (NGMDF)?
What percentage of shareholders approved the new Control Persons for NuGen (NGMDF)?
Who are the new directors appointed to NuGen's (NGMDF) board in November 2024?
