FutureGen Industries Announces Private Placement

Executive Summary

• FutureGen Industries Corp. announced a non‑brokered private placement of up to 3,571,428 units at $0.14 per unit, targeting gross proceeds of up to $500,000.
• Each unit consists of one common share and one warrant allowing purchase of an additional share at $0.18 for 36 months; the company will also issue “Admin Fee Shares” equal to 1 % of the placed shares as compensation to a third‑party facilitator.
• Proceeds are earmarked for general corporate and working‑capital purposes, including operational, R&D, and investor‑relations initiatives.

Key Details

• Units Offered: Up to 3,571,428 units at $0.14 per unit.
• Gross Proceeds Target: Up to $500,000.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $0.18 per share; exercisable for 36 months from issuance.
• Admin Fee Shares: Shares equal to 1 % of the total shares issued in the placement, to be issued to an arm’s‑length third party as a facilitation fee.
• Finder’s Fees/Warrants: Company may pay finder fees or issue finder warrants on the same terms as the primary warrants to parties introducing subscribers.
• Closing Conditions: Subject to receipt of all required regulatory and other approvals; securities subject to a hold period of four months and one day under applicable securities laws.
• Use of Proceeds: General corporate and working‑capital purposes, including pursuit of operational and research & development objectives and investor‑relations activities.
• U.S. Securities Disclaimer: Units are not registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption.

Notable Quotes

(No direct quotes were provided in the release.)