NexgenRx Announces Retirement of all CBA/MYB Outstanding Indebtedness and Stock Option Grants

Mar 06, 2021

TORONTO, ON / ACCESSWIRE / March 5, 2021 / NEXGENRX INC. (TSXV:NXG, Financial) ("NexgenRx" or the "Company") is pleased to announce that it has completed payment of all deferred consideration in connection with its previous acquisitions of Canadian Benefit Administrators Ltd. ("CBA") and MyBenetech Inc. ("MYB") (see the Company's press release dated July 24, 2018 for details). NexgenRx previously acquired all of the issued and outstanding shares of each of CBA and MYB for an aggregate purchase price of $4,000,000, with $2,800,000 having been paid upon closing and a further $1,200,000 being deferred, $1,100,000 of which has been paid in cash and $100,000 of which has been paid via the issuance to the former shareholders of CBA and MYB of an aggregate of 416,667 common shares in the capital of NexgenRx at a price of $0.24 per share. In accordance with applicable securities laws, a four (4) month hold period applies to the foregoing shares, which will expire on July 6, 2021.

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