Nexgenrx Announces Q2 2023 Quarterly Results (With Continued Revenue Growth), Consulting Agreement and Option Grant - Seite 2

Consulting Agreement

NexgenRx is pleased to announce that it has entered into a consulting agreement with PBM Management Services in respect of the provision by PBM of strategic planning and consulting services to the CEO and executive management team, including planning regarding strategic partners, capital market advising, and support to determine near-term and longer-term revenue expansion. The Consulting Agreement contemplates four quarterly cash payments and four quarterly equity payments of common shares, each valued at $62,500, which shares are issuable at a price as is equal to the 5-day average closing price of the Corporation's common immediately preceding the payment date. The Corporation has issued 195,312 common shares at a price of $0.32 in respect of the first quarterly equity payment that is due under the Consulting Agreement, as all services required in respect of such payment have been provided in full. The foregoing consulting services have been recorded and disclosed in the Corporation's financial statements for the period ended June 30, 2023. The foregoing shares are subject to a statutory four-month hold period (expiring December 22, 2023) in accordance with applicable securities laws.

Option Grants

The Company also announces the grant to certain non-executive directors of NexgenRx of an aggregate of 450,000 options to acquire common shares in the capital of NexgenRx at a price of $0.32 for a period of 10 years. All of the foregoing options shall vest as to 33.3% each year for three years, beginning on the first anniversary of the grant date. All of the options granted today (and the common shares issuable upon exercise) will be subject to applicable securities law hold periods.

About NexgenRx

NexgenRx is Canada's only independent full-service Third-Party Administrator and Technology Solutions Provider, offering proprietary full front-end, eligibility, enrolment, hour bank and mobile access capabilities, together with state-of-the-art claims adjudication and full provider network coverage. These combined capabilities allow NexgenRx to provide Plan Sponsors, sophisticated administration and health benefit technology applications in a cost-effective SaaS (Software as a Service) Model.