DIAGNOS Announces Short Term Financing
November 26 2019 - 1:19PM
Diagnos Inc. (“DIAGNOS” or “the Corporation”) (TSX Venture: ADK)
(OTCQB:DGNOF) a leader in early detection of critical health issues
through the use of its FLAIRE platform based on Artificial
Intelligence (AI), announces a financing of $400,000 in the form of
one short term debt agreement.
DIAGNOS and one arm’s length person (the
“Lender”) have entered into one unsecured and non-convertible loan
agreement (the “Loan”) for an amount of $400,000. The Loan bears no
interest and is repayable by the Corporation at the earliest of (i)
the closing date of a future round of financing of at least
$3,000,000, or (ii) May 26th, 2020. As a bonus to the Loan, the
Corporation is granting the Lender 3,076,922 non-transferable share
purchase warrants (each a “Warrant”) enabling its holder to
purchase one common share of the Corporation per Warrant, at a
price of $0.13 per share, for a period of twelve months ending
November 26, 2020 (“Loan Bonus”).
The Loan proceeds will be used to fund the
operating expenses of the Corporation.
The Warrants and underlying common shares are
subject to a four-month hold period ending March 26, 2020. The Loan
Bonus remains subject to the final approval of the TSX Venture
Exchange. All monies quoted in this press release are stated in
lawful money of Canada, unless otherwise specified.
About DIAGNOS
DIAGNOS is a publicly-traded Canadian
corporation with a mission of early detection of critical health
issues through the use of its Artificial Intelligence (“AI”) tool
CARA (Computer Assisted Retina Analysis). CARA is a
tele-ophthalmology platform that integrates with existing equipment
(hardware and software) and processes at the point of care. CARA’s
Artificial Intelligence image enhancement algorithms make standard
retinal images sharper, clearer and easier to read. CARA is
accessible securely over the internet, and is compatible with all
recognized image formats and brands of fundus cameras, and is EMR
compatible. CARA is a cost-effective tool for screening large
numbers of patients in real-time. CARA complies with local
regulations, is FDA cleared for commercialization in the United
States of America, is Health Canada licensed for commercialization
in Canada and is CE marking compliant in Europe.
Additional information is available at
www.diagnos.com and www.sedar.com
This news release contains forward-looking
information. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in these
statements. DIAGNOS disclaims any intention or obligation to
publically 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 news release is
expressly qualified by this cautionary statement.
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.
For further information, please contact:
Mr. André Larente, President
DIAGNOS Inc
Tel: 450-678-8882 ext. 224
alarente@diagnos.ca
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