DIAGNOS Announces Closing of Private Placement
February 11 2020 - 4:47PM
DIAGNOS Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK)
(OTCQB: DGNOF), a leader in early detection of critical health
issues through the use of Artificial Intelligence (AI), announces
that it has completed the non-brokered private placement previously
announced on February 5, 2020, of 4,547,110 common shares of the
Corporation (each a “Share”) issued at a price of $0.18 per Share,
for gross proceeds of $818,479.80 (the “Private placement”).
The proceeds from the Private placement will
mainly be used to fund sales and marketing as well as
administrative expenses.
In connection with the Private placement, the
Corporation has retained the services of two brokers to act as
finders. As per the terms of their engagement agreements, an
aggregate cash commission of $63,750.38 was paid and 354,169 broker
warrants were issued. Each broker warrant entitles the holder to
purchase one Share at an exercise price of $0.20 per Share for a
period of 24 months until February 11, 2022. As a result of the
Private placement, one subscriber, Mr. Tristram Coffin, will become
insider of the Corporation.
All securities issued as part of the Private
placement are subject to a statutory four-month hold period ending
June 12, 2020 and the Private placement is subject to receipt of
all required approvals, including the approval of the TSX Venture
Exchange, as well as the execution of formal documentation.
All monies quoted in this press release shall be
stated and paid in lawful money of Canada.
About DIAGNOSDIAGNOS 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 and has been cleared for
commercialization by several regulatory authorities such as Health
Canada, the U.S. Food and Drug Administration and the European
Union.
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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