Fredericton, New Brunswick – November 29, 2024 – NextGen Digital Platforms Inc. (“NextGen” or the “Company”) (CSE: NXT) is pleased to report that it has commenced evaluating cryptocurrency-related business opportunities, leveraging its past exposure to the sector and its demonstrated expertise internally conceiving and developing micro-technology platforms.
When NextGen first entered the e-commerce space, it launched CryptoASICMining.com (“CAM”) (see press release dated January 20, 2023), a website specializing in the sale of ASIC hardware for cryptocurrency mining. This venture served as the foundation for what has since evolved into PCSections.com (“PCS”), the Company’s e-commerce platform for premium gaming electronics and other specialized hardware. With renewed global interest in cryptocurrency and blockchain technology, the Company is assessing the potential to re-enter the crypto sector by developing a Web3-related business platform that draws on the knowledge and operational experience gleaned from CAM.
Joel Freudman, President & CEO of NextGen, commented, “At NextGen, we are constantly looking to develop and acquire micro-technology platforms, and the recent influx of interest in cryptocurrency has certainly caught our attention. We believe that evaluating a new business line in the crypto sector could be a near-term catalyst for the Company and value driver for our shareholders, drawing on our early experience with CAM as well as our subsequent successful launches and ongoing development of both PCS and Cloud AI Hosting.”
About NextGen Digital Platforms Inc.
NextGen is a Canadian technology company specializing in the development and acquisition of revenue-generating micro-technology digital platforms. The Company currently operates e-commerce platform PCSections.com (“PCS”) and a hardware-as-a-service business supporting the artificial intelligence sector, called cloud AI hosting (“Cloud AI Hosting”). Both PCS and Cloud AI Hosting were developed in-house by NextGen. From time to time the Company also intends to evaluate and acquire or develop other micro-technology platforms.
NextGen is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about NextGen, please contact:
Joel Freudman
Founder, President & CEO
NextGen Digital Platforms Inc.
Phone: (647) 368-7789
Email: info@nextgendigitalplatforms.com
Website: https://nextgendigitalplatforms.com/
Cautionary Statements Regarding Forward-Looking Information
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the potential development of a new cryptocurrency business line. These statements are based on numerous assumptions regarding the Company’s business strategy and plans, technological developments, and new business opportunities that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: challenges executing on corporate strategy and business plans; technological and business risks inherent in cryptocurrency, artificial intelligence, e-commerce, and other emerging sectors that the Company is or may become involved in; operational and technical challenges; uncertain financial prospects of cryptocurrency, Cloud AI Hosting and PCS; the Company’s ability to compete with other businesses in the e-commerce, cryptocurrency and/or cloud hosting markets; negative operating cash flow and potentially insufficient capital to complete the development and/or expansion of any of the Company’s technologies; volatility in financial markets and economic conditions, including significant volatility in cryptocurrency prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
