07:05 AM EST, 01/29/2025 (MT Newswires) -- NextGen Digital Platforms (NXT.CN) on Wednesday increased the size of its previously announced non-brokered private placement to $1.2 million from $1 million due to significant demand.

The upsized offering will consist of up to 937,500 units at $1.28 apiece, with each unit consisting of one common share and one transferrable common share purchase warrant. Each warrant will entitle the holder to buy one additional share at an exercise price of $1.60 for a period of 24 months from the date of issuance.

The company will use proceeds for corporate development, marketing, and general working capital needs. NXT plans to complete a second tranche of the offering in the coming weeks.

NextGen Digital also began the process of building a strategic position in Ripple (XRP).

"We are also excited to execute on our strategy of democratizing cryptocurrency investing and curating a portfolio of selected cryptocurrencies to maximize shareholder value. We look forward to continue driving forward with our strategy and participating in the potential of blockchain technology," said NextGen Interim Chief Executive Alexander Tjiang.

Shares of the company closed flat at $1.31 on Tuesday on the Canadian Securities Exchange.