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NuGen Announces Results of its Annual and Special Meeting and Approval of Amendments to Stock Option Plan

Virtual Conference

June 17, 2022

Toronto, Ontario – June 17, 2022 – NuGen Medical Devices Inc. (TSXV: NGMD) (the “Company”) is pleased to announce that all matters  submitted  to  shareholders  for  approval as set out in detail in the Company’s management information circular (“Circular”) dated May 17, 2022 were approved at the annual and special meeting of the shareholders of the Company held on June 17, 2022 (the  “Meeting”).  At the Meeting, KPMG LLP was re-appointed as auditor of the Company, and the incumbent members of the board of directors, being Michael Wright, John Leombruno, Derek Lindsay, Karen Dunlap and William Cleman were re-elected.

The Company is also pleased to announce that its proposal to amend the terms of the stock option plan of the Company (the “Plan”) as a result of certain revisions made to TSX Venture Exchange Policy 4.4 – Security Based Compensation (“Policy 4.4”), which came into effect on November 24, 2021, was approved at the Meeting. For more information on the changes to Policy 4.4, please see the TSXV Bulletin re Policy 4.4 – Security Based Compensation dated November 24, 2021. The Plan was conditionally approved by the TSX Venture Exchange on May 26, 2022.

About NuGen Medical Devices:

NuGen is an emerging specialty medical device company focused on developing and commercializing novel drug delivery technologies. NuGen’s principal business is the development and commercialization of innovative needle-free injection devices and systems for the administration of subcutaneous medication. It is developing products using needle-free drug delivery technology in several important fields including, but not limited to, anaphylaxis, diabetes, severe migraine, erectile dysfunction, chronic anemia, neutropenia, autoimmune rheumatoid arthritis, growth and fertility hormone, psoriasis as well as DNA and conventional/pediatric vaccines.

For further information, please visit:

Website: www.nugenmd.com

Twitter: @NuGenMD

LinkedIn: https://www.linkedin.com/company/nugenmd/

For further information, please contact:

Michael Wright
President and CEO
NuGen Medical Devices Inc.
mw@nugenmd.com

Investor Relations Contact:

 Kin Communications Inc.
NGMD@kincommunications.com
(604) 684-6730

Notice Regarding Forward-Looking Information:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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