08:14 AM EDT, 05/26/2025 (MT Newswires) -- NextGen Digital Platforms ( NXTDF ) announced Monday the appointment of Matt Zahab to the board of directors.

Steven Sirbovan also resigned from the board, the company said. According to NextGen, Zahab is a technology professional who is currently the chief marketing officer and podcast host at CryptoNews.com. He also served as head of growth at Cypherpunk Holdings, which is now known as SOL Strategies ( CYFRF ) .

"His deep expertise in the digital assets space and extensive experience leading growth at SOL Strategies ( CYFRF ) brings a breadth of knowledge that will be invaluable to NextGen as we continue to build our long-term strategy," said Alexander Tjiang, interim CEO of NextGen.

Separately, NextGen said over the weekend that it completed the third and final tranche of its previously announced private placement, raising $740,410. Under the third tranche, NextGen issued 2,468,032 special warrants at $0.30 apiece. Each special warrant will automatically convert into one common share three business days after the company files a prospectus supplement to a short form base shelf prospectus, or four months and one day after closing of the offering, whichever is earlier.

In total, NextGen issued 8,979,498 special warrants and 440,000 common shares at $0.30 per security for total gross proceeds of about $2.8 million. The company said it plans to use the proceeds for corporate development, marketing, and general working capital.

NextGen's share price slumped 8.3% on Friday to $0.55 on the CSE.