– NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES –
Fredericton, New Brunswick, Jan. 26, 2025 (GLOBE NEWSWIRE) — NextGen Digital Platforms Inc. (CSE:NXT) (FSE:Z12) (“NextGen” or the “Firm”), a publicly traded firm listed on the Canadian Securities Trade (the “CSE”), is happy to announce its strategic entry into the quickly increasing cryptocurrency sector. NextGen has entered right into a letter of intent dated January 26, 2025 (the “Letter of Intent”) with a publicly-listed know-how firm (the “Vendor”) to accumulate (the “Acquisition”) the declare of roughly 10,000 Solana cash (the “SOL”) or an equal money quantity (the “Crypto Proceeds”, and along with the SOL, the “Crypto Belongings”). The Acquisition marks the beginning of NextGen’s technique to construct a robust digital asset portfolio, providing traders publicity to the rising cryptocurrency market.
The Vendor is a publicly traded know-how firm listed on the TSX Enterprise Trade (the “TSXV”). These belongings are presently held by Genesis World (the “Custodian”), a cryptocurrency lender and market maker that filed for Chapter 11 chapter in January 2023 as a consequence of monetary difficulties. After finishing its restructuring in August 2024, Genesis started distributing roughly $4.0 billion in digital belongings and money to collectors, together with the Crypto Belongings, which are actually being distributed. The Custodian is presently topic to sure chapter proceedings, and because of this, the Crypto Belongings are within the technique of being distributed by the Custodian to the Vendor. In gentle of the restructuring of Genesis, there isn’t any assure that any Crypto Belongings can be superior to the Vendor and NextGen or that any Consideration Shares can be issued.
Beneath the phrases of the Letter of Intent, NextGen plans to accumulate the Crypto Belongings from the Vendor for as much as C$5.5 million, topic to receiving all needed regulatory approvals, together with from the CSE and TSXV. The acquisition can be absolutely paid with the issuance of NextGen widespread shares (the “Consideration Shares”).
Following the discharge of every tranche of Crypto Belongings to the Vendor by the Custodian (every a “Custodian Supply Date”), the Vendor will, inside three (3) enterprise days of such Custodian Supply Date, ship to NextGen the relevant SOL, or in that case elected by the Custodian, the Money Proceeds, which shall be equal to the variety of SOL topic to such tranche. Nevertheless, if the volume-weighted common buying and selling value (“VWAP”) of SOL on coinmarketcap.com over the ten (10) buying and selling days instantly previous to the relevant Custodian Supply Date is lower than a reference SOL value, NextGen could elect to not proceed with the acquisition of the relevant Crypto Belongings topic to such tranche, and no Consideration Shares can be issuable in alternate subsequently.
In alternate for such Crypto Belongings, NextGen will difficulty to the Vendor 540 widespread shares at a reduced market value for every SOL coin or equal obtained. Nevertheless, that within the occasion that the NextGen’s widespread shares buying and selling on the CSE instantly previous to a Custodian Supply Date is lower than the $0.75, then the Vendor could elect to not proceed with the acquisition of the relevant Consideration Shares topic to such tranche and no Crypto Belongings can be issuable in alternate.
All Consideration Shares issued pursuant to the Acquisition can be topic to a statutory 4-month maintain interval from the date of issuance in accordance with relevant securities legal guidelines.
Completion of the Acquisition stays topic to the satisfaction of varied situations together with, with out limitation, the receipt by the Firm and the Vendor of all needed company and regulatory approvals and different situations customary for a transaction of this nature, and coming into right into a definitive settlement on or earlier than March 15, 2025. The Acquisition is an arm’s size transaction and there can be no modifications to the Firm’s board or administration in reference to the Acquisition. No finder’s charges are anticipated to be paid in reference to the Acquisition.
This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase securities in america, nor shall there be any sale of the securities in any jurisdiction through which such provide, solicitation or sale could be illegal. The securities being supplied haven’t been, nor will they be, registered underneath the 1933 Act or underneath any U.S. state securities legal guidelines, and will not be supplied or offered in america absent registration or an relevant exemption from the registration necessities of the 1933 Act, as amended, and relevant state securities legal guidelines.
About NextGen Digital Platforms
NextGen Digital Platforms Inc. (CSE: NXT) is a publicly traded firm listed on the Canadian Securities Trade, with a twin deal with digital belongings and synthetic intelligence infrastructure. The Firm is dedicated to democratizing entry to cryptocurrencies by offering traders with publicity to a diversified basket of digital belongings via a regulated public car, providing a seamless entry into the rising cryptocurrency market. In parallel, NextGen operates a hardware-as-a-service enterprise supporting the factitious intelligence sector, often known as cloud AI internet hosting (“Cloud AI Internet hosting”), delivering superior infrastructure options for AI-driven purposes.
For Extra Data:
Alexander Tjiang, Interim Chief Govt Officer
(416) 300-7398
https://nextgendigital.ca/
data@nextgendigital.ca
Warning Relating to Ahead-Trying Data
This press launch contains sure “forward-looking data” inside the which means of relevant Canadian securities laws. All statements herein, aside from statements of historic truth, represent forward-looking data. Ahead-looking data is ceaselessly, however not all the time, recognized by phrases reminiscent of “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “potential”, and comparable expressions, or statements that occasions, situations, or outcomes “will”, “could”, “may”, or “ought to” happen or be achieved.
Ahead-looking data on this press launch contains, however isn’t restricted to, statements regarding the Firm’s enterprise plans and anticipated future development, the coming into into of a definitive settlement in respect of the Acquisition, the completion of the Acquisition on the phrases described herein or in any respect, the anticipated closing of the Acquisition and the anticipated advantages of the Acquisition. Ahead-looking data displays the beliefs, opinions and projections on the date the statements are made and are based mostly upon quite a few assumptions and estimates that, whereas thought of affordable by the Firm, are inherently topic to important enterprise, technical, financial, and aggressive uncertainties and contingencies, together with the speculative nature of cryptocurrencies. Many components, each recognized and unknown, may trigger precise outcomes, efficiency or achievements to be materially totally different from the outcomes, efficiency or achievements which are or could also be expressed or implied by such forward-looking data. Such dangers, uncertainties and different components embody, with out limitation, the Firm’s capacity to execute on its enterprise and funding plans; the Firm’s capacity to lift debt or fairness via future financing actions; the Firm’s capacity to extend its investments in cryptocurrency-based applied sciences; any antagonistic modifications and developments concerning Solana, XRP, DOGE or the cryptocurrency ecosystem; the expansion and improvement of decentralized finance and the digital asset sector; any new guidelines and laws with respect to decentralized finance and digital belongings; the inherent volatility within the costs of sure cryptocurrencies together with Solana, XRP and DOGE; rising competitors within the crypto and blockchain industries; basic financial, political and social uncertainties in Canada and america; forex alternate charges and rates of interest; the restricted assets of the Firm; the Firm’s reliance on the experience and judgment of senior administration and the Firm’s capacity to draw and retain key personnel; the speculative nature of cryptocurrencies basically; and the Firm’s capacity to proceed as a going concern.
There could be no assurance that such forward-looking data will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such data. Accordingly, readers mustn’t place undue reliance on forward-looking data. Ahead-looking statements are made based mostly on administration’s beliefs, estimates and opinions on the date that statements are made and the Firm undertakes no obligation to replace forward-looking statements if these beliefs, estimates and opinions or different circumstances ought to change, besides as required by legislation. Buyers are cautioned towards attributing undue certainty to forward-looking statements.
Neither the Canadian Securities Trade nor its Market Regulator (as that time period is outlined within the insurance policies of the Canadian Securities Trade) accepts duty for the adequacy or accuracy of this launch.
