DIAGNOS Announces Closing of Second and Final Tranche of Private Placement
March 22 2024 - 4:16PM
DIAGNOS Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK)
(OTCQB: DGNOF), a pioneer in early detection of critical health
issues through the use of Artificial Intelligence (AI)
technologies, announces the closing of a second and final tranche
of 650,000 units (each a “Unit”) issued at a price of $0.28 per
Unit, for gross proceeds of $182,000, of a non-brokered private
placement initially announced on February 27, 2024 (“Private
Placement”). Combined with the first closing announced on February
27, 2024, the aggregate number of Units is 2,064,286 and the
aggregate gross proceeds amount to $578,000.08.
Each Unit consists of:
- One (1) common share (“Share”),
and
- One (1) common share warrant
(“Warrant”).
As part of the closing of the second and final
tranche of the Private Placement, 650,000 Warrants have been issued
to the subscribers. Each Warrant can be exercised to purchase one
Share at a price of $0.40 per Share for a period of 18 months
ending September 22, 2025. Combined with the first closing
announced on February 27, 2024, the aggregate number of Warrants is
2,064,286.
The net proceeds from the Private Placement will
be used to fund product development and commercialization of
AI-based screening services as well as general and administrative
operations.
In connection with the closing of the second and
final tranche of the Private Placement, the Corporation (i) paid
cash commissions amounting to $7,840 and (ii) issued an aggregate
number of 28,000 finder’s warrants to two qualified firms acting at
arm’s length (each a “Finder”). Each finder’s warrant entitles the
Finder to purchase one Share at an exercise price of $0.40 per
Share for a period of 18 months ending September 22, 2025.
All securities issued as part of the second and
final tranche of the Private Placement are subject to a statutory
hold period ending July 23, 2024.
The closing of the Private Placement remains
subject to receipt of all required approvals, including the
approval of the TSX Venture Exchange, as well as execution of
formal documentation.
All monies quoted in this press release shall be
stated and paid in lawful money of Canada.
About DIAGNOS DIAGNOS is a publicly traded
Canadian corporation dedicated to early detection of critical
health problems based on its FLAIRE Artificial Intelligence (AI)
platform. FLAIRE allows for quick modifying and developing of
applications such as CARA (Computer Assisted Retina Analysis).
CARA’s image enhancement algorithms provide sharper, clearer and
easier-to-analyze retinal images. CARA is a cost-effective tool for
real-time screening of large volumes of patients.
Additional information is available at
www.diagnos.ca and www.sedar.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This press release contains forward-looking
information. We cannot guarantee that the forward-looking
information mentioned will prove to be accurate, as there may be a
significant discrepancy between actual results or future events and
those mentioned in this statement. DIAGNOS disclaims any intention
or obligation to publicly update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise. The forward-looking information contained in this
press release is expressly covered by this caution.
For further information, please contact:
Mr. André Larente, President
DIAGNOS Inc.
Tel: 450-678-8882 ext. 224
alarente@diagnos.ca
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