Toronto, Ontario--(Newsfile Corp. - May 29, 2023) - NuGen Medical Devices Inc. (TSXV: NGMD) ("NuGen" or the "Company") announces that, further to its press release dated February 28, 2023, it has entered into an amended and restated agreement (the "Agreement") dated May 29, 2023 with bullVestor Medien GmbH ("bullVestor"), an arm's-length party to the Company, to provide marketing services to the Company for a period ending in June 2023. The services will include the creation of content, strategic planning, digital marketing, digital advertisement placement, investor relation and promotional services and building awareness of the Company to a wider European audience and overseeing progress and results of digital campaigns. In consideration for providing the services, the Company has previously paid to bullVestor $500,000. Further, under the terms of the Agreement, the Company and bullVestor have agreed to negotiate in good faith the fee for any future services that may be provided from June 2023 to December 2023 subject to a maximum fee of $500,000.

Consideration offered to bullVestor does not include any securities of the Company. Aside from this engagement, the Company does not have any relationship with bullVestor.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information, please contact:

Tony Di Benedetto
Executive Chairman
(416) 791-9399
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Richard Buzbuzian
President & CEO
(647) 501-3290
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About NuGen Medical Devices

NuGen is an emerging specialty medical device company developing the next generation of needle-free technologies and other innovative medical delivery products. The company's products, which include the InsuJet™ and PetJet™ needle-free injection systems, are designed to improve the lives of millions of people and animals. NuGen continues to receive approval in numerous countries, including Canada. NuGen's products are designed for use in several important fields including, but not limited to, diabetes, veterinary medicine, and vaccines.

For further information, please visit:

Websites: www.insujet.com and www.nugenmd.com

Instagram: @NuGenMD

Twitter: @NuGenMD

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

Notice Regarding Forward-Looking Information:

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

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. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.