FutureGen Industries Finalizes $500,000 Private Placement

FutureGen Industries Corp. has successfully concluded its non-brokered private placement, raising $500,000. The company issued 3,571,428 units at $0.14 each. Each unit comprises one common share and one warrant, with the latter allowing holders to purchase additional shares at $0.18 over a 24-month period. This term marks a change from the previously announced 36-month duration.

The capital acquired will primarily support general corporate functions, alongside operational, research, development, and investor relations endeavors. Furthermore, 35,714 shares were allocated to a third-party for administrative services related to this placement.

Securities from this placement are subject to a four-month and one-day hold period, as per securities regulations. Notably, these securities remain unregistered under the U.S. Securities Act of 1933, limiting their distribution strictly outside the United States.