NuGen Medical Devices Inc (TSE:NGMD) has released an update.
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NuGen Medical Devices Inc. has successfully closed a $10 million secured convertible debenture private placement with strategic investors, Sol-Millennium Medical HK Limited and Nature Health Development (Hong Kong) Co. Limited. The funds are earmarked for working capital, scaling up production, and meeting growing global sales orders. Additionally, the company plans to seek shareholder approval for the appointment of new directors and an Executive Chairman, as these investments may lead to a change in control of the company.
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