NuGen Targets $10M Raise for Expansion Efforts

NuGen Medical Devices Inc (TSE:NGMD) has released an update.

NuGen Medical Devices Inc., a pioneer in developing needle-free drug delivery systems, is aiming to raise up to $10 million through a private offering of secured convertible debentures. These funds are targeted for enhancing working capital, boosting production, and meeting growing global sales orders. The debentures, with a 12% annual interest rate, are set to mature in five years and can be converted into company units before maturity.

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