Nugen Announces Results Of Special Meeting And Appointment Of New Directors
Nugen Announces Results Of Special Meeting And Appointment Of New Directors . (MENAFN - Newsfile Corp) 
Toronto, Ontario--(Newsfile Corp. - November 14, 2024) - NuGen Medical Devices Inc. (TSXV: NGMD) (the "  Company  " or "  NuGen  ") a leading developer of needle-free ...
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(MENAFN- Newsfile Corp) Toronto, Ontario--(Newsfile Corp. - November 14, 2024) - NuGen Medical Devices (TSXV: NGMD) (the " Company " or " NuGen ") a leading developer of needle-free devices to administer therapeutics subcutaneously, is pleased to announce that its have approved Sol-Millennium Medical HK Limited (" Sol-M ") and Nature Development (Hong Kong) Co. Limited (" Nature Health ") as new Control Persons (as defined in the policies of the TSX Venture Exchange) of the Company.

On September 20, 2024, Sol-M and Nature Health acquired an aggregate of C$10 million principal amount secured convertible debentures (the " Convertible Debentures ") of the Company. Please refer to the Company's press release of September 20, 2024 , for a description of the features of the Convertible Debentures. If and when Sol-M and/or Nature Health convert their Convertible Debentures and exercise their underlying securities, each would hold greater than 20% of the then-issued and outstanding common shares of the Company thereby potentially making them new Control Persons.

With an aggregate of 23,139,808 votes in favour (99.93%) and 15,244 votes against (0.07%), the shareholders of the Company approved Sol-M and Nature Health as Control Persons.

Concurrently, the shareholders approved the appointment of Arvind Rai, a nominee of Sol-M and Nature Health, as a director of the Company. Mr. Rai is a seasoned financial executive with over twenty years of experience in steering business and financial strategies within the global manufacturing and healthcare sectors. He possesses extensive international expertise in financial reporting, planning, internal controls, audits, and fraud investigations.

NuGen further announces the appointment of Louise Cresswell to its board of directors. Ms. Cresswell has been NuGen's Commercial and Clinical Lead since April 2023, leading commercial activities and successfully accelerating the growth of the Company's activities in the UK market. Ms. Cresswell has an extensive background working in the UK health sector both as a registered nurse and in commercial, sales and marketing roles with international manufacturers and suppliers of medical technologies.

Karen Dunlap, Interim Chief Executive Officer of NuGen, commented: "We are thrilled to announce the incorporation of Arvind Rai and Louise Cresswell to the board of directors. Their expertise and experience will be critical for the Company's business plans and commercial development as the Company works to open new distribution channels and markets."

The Company also wishes to announce the departure of Mr. Richard Buzbuzian as a director and president of the Company. Since his appointment, Mr. Buzbuzian played a key role in the Company's restructuring and strategic planning and has been instrumental in the Company's recent commercial success. The board of directors would like to thank him for his contributions. Mr. Buzbuzian remains active with NuGen in a consultant role.

About NuGen

NuGen is a leading developer of needle-free devices to administer therapeutics subcutaneously. The Company is marketing and selling its next-generation InsuJetTM needle-free injection system designed to improve the lives of millions of diabetics. InsuJetTM is approved for sale in 42 countries around the world.

For further information, please visit:

Websites: , and

Instagram: @NuGenMD

Twitter: @NuGenMD

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https://menafn.com/1108888443/Nugen-Announces-Results-Of-Special-Meeting-And-Appointment-Of-New-Directors
2024-11-14
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(MENAFN - Newsfile Corp) 
Toronto, Ontario--(Newsfile Corp. - November 14, 2024) - NuGen Medical Devices Inc. (TSXV: NGMD) (the "  Company  " or "  NuGen  ") a leading developer of needle-free ...
Nugen Announces Results Of Special Meeting And Appointment Of New Directors