NuGen Medical Devices Inc (TSE:NGMD) has released an update.
NuGen Medical Devices Inc. has reached an agreement to convert €275,000 of debt into 2 million common shares to strengthen its balance sheet, while also renegotiating payment terms with creditor Care4Pharma, extending the deadline for a €1.2 million payment to November 2026 with added interest and a fee upon future financing. The arrangements, which are still subject to regulatory approval, are part of NuGen’s strategy to conserve cash and focus on expanding its InsujetTM product line.
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