FREDERICTON, New Brunswick, Nov. 28, 2024 (GLOBE NEWSWIRE) -- NextGen Digital Platforms Inc. ("NextGen” or the "Company”) (CSE: NXT) is pleased to announce the purchase of additional workstations for its online hardware-as-a-service business ("Cloud AI Hosting”), alongside the launch of a new digital marketing campaign for its e-commerce platform, PCSections.com ("PCS”).
The two new workstations, each containing one graphics processing unit ("GPU”), are expected to generate revenue upon delivery and setup, enabling the Company to further increase its operational cashflow in the near-term. The delivery timeline is estimated at approximately one month. The workstations have been ordered from Ingram Micro, a Canadian electronics distributor for which PCS is an authorized reseller. This initiative underscores the synergy between the Company's business units, as PCS leverages its reseller status with its supplier Ingram Micro to secure workstations for the Company's Cloud AI Hosting business.
The expansion of Cloud AI Hosting marks a significant step toward NextGen's goal of building a larger fleet of GPUs for Cloud AI Hosting. The acquisition of additional workstations is anticipated to continue on a rolling basis to balance capacity and cost-effectiveness, while also anticipating the potential release of Nvidia's RTX 50 series GPUs next year.
In parallel, the Company has initiated an advertising campaign aimed at driving traffic and increasing sales on PCS. This campaign seeks to enhance PCS's visibility in the competitive e-commerce market, leveraging social media advertising to reach a broader audience.
Kevin Zhou, NextGen's Director of Platforms & Marketing, commented: "This milestone underscores NextGen's commitment to expanding Cloud AI Hosting by steadily building out our GPU fleet, which will enable us to meet increasing computing demands from AI users. Acquiring additional workstations on a rolling basis strengthens our capacity to adapt to future technological advancements. For PCS, the marketing campaign complements our recent platform upgrades, aimed at boosting visibility and attracting more customers.”
Joel Freudman, President & CEO of NextGen, added: "Building out our Cloud AI Hosting business represents an important step in NextGen's broader strategy to align with emerging technologies, such as artificial intelligence and Web3. These initiatives reinforce our commitment to business development and revenue growth in next-generation tech sectors while driving value for our shareholders.”
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: [email protected]
Website: https://nextgendigital.ca/
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 anticipated revenue generation and delivery timeline of the new workstations, the continued expansion and development of Cloud AI Hosting and PCS, and potential opportunities associated with Nvidia's RTX 50 series. These statements are based on numerous assumptions regarding the Company's business strategy and plans, workstation purchase orders, 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: delays in delivery or setup of new workstations; potential failure of workstation purchase orders to be fulfilled or uncertainty regarding the eventual supplier fulfilling the orders; reliance on third-party suppliers; technological and business risks inherent in artificial intelligence, Web3, e-commerce, and other emerging sectors that the Company is or may become involved in; operational and technical challenges; uncertain financial prospects of Cloud AI Hosting and PCS; the Company's ability to compete with other businesses in the e-commerce 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; 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.
