Not for Distribution to United States News Wire Services or for Dissemination in the United States
VANCOUVER, BC / ACCESSWIRE / July 19, 2023 / NextGen Food Robotics Corp. (the "Company" or "NextGen") (NEO:NGRB; OTC Pink:NGRBF; Frankfurt:O83) is pleased to announce, further to its news release on July 17, 2023, that it has filed an amended and restated offering document (the "Amended Offering Document") for its previously announced private placement offering (the "Original Offering") of units of the Company ("Units"). The Original Offering contemplated the offering by the Company of up to 2,500,000 Units at $0.60 per Unit for aggregate gross proceeds of up to $1.5 million. As amended by the Amended Offering Document, the Company will be offering (the "Amended Offering") up to 2,750,000 Units at $0.60 per Unit for aggregate gross proceeds of up to $1.65 million. Each Unit will be composed of one (1) common share in the capital of the Company (a "Share") and one-half of one (1/2) common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one (1) additional Share (a "Warrant Share") at a price of $0.70 per Warrant Share for a period of 12 months from issuance.
In connection with the Amended Offering, the Company may pay certain finders (each, a "Finder") a cash commission and/or issue such Finders non-transferable share purchase warrants, in accordance with the NEO Exchange ("NEO") policies. The Company intends to use the net proceeds raised from the Amended Offering for the development and rollout of the Company's Lily app, the re-allocation and retrofit of the Company's commissary kitchen, advertising and marketing, and general working capital, all as set out in more detail in the Amended Offering Document.
The Amended Offering is expected to close on or around July 24, 2023. The Amended Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the NEO.
The Amended Offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 Prospectus Exemptions and therefore the securities issued in the Amended Offering to Canadian subscribers will not be subject to a hold period in accordance with applicable Canadian securities laws. The Amended Offering Document can be accessed under the Company's profile at www.sedar.com and at www.nextgenai.ca. Prospective investors should read the Amended Offering Document before making an investment decision.
The securities issued pursuant to the Amended Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About NextGen Food Robotics
Nextgen Food Robotics is an automated robotic food co-packer and manufacturer that uses technology to modernize its food manufacturing processes. Additionally, Nextgen is developing the "Lily app", which is an AI-powered food application.
For investor inquiries or further information, please contact:
Paul Rivas, Chief Executive Officer
1 (236) 471-1357
privas@originalholycow.com
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Amended Offering and the expected closing date of the Amended Offering; approval of the Amended Offering from the NEO; and the intended use of proceeds from the Amended Offering are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the NEO Exchange nor its Market Regulator (as that term is defined in policies of the NEO Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: NextGen Food Robotics Corp.
View source version on accesswire.com:https://www.accesswire.com/769269/NextGen-Food-Robotics-Files-Amended-and-Restated-Offering-Document-for-Non-Brokered-Private-Placement
