DIAGNOS Announces Private Placement of Common Shares
February 24 2020 - 05:05PM
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 undertaken to complete a non-brokered private placement
(“Private placement”) of up to 9,722,223 common shares of the
Corporation (each a “Share”) to be issued at a price of $0.18 per
Share, for gross proceeds of up to $1,750,000.
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 may pay certain qualified person(s) a commission in the
form of (i) cash equal to 8% on the proceeds from subscribers
referred by the qualified person, and (ii) a number of broker
warrants equal to 8% of the Shares issued to subscribers referred
by the qualified person. Each broker warrant will entitle the
holder to purchase one Share at the exercise price of $0.23 per
Share, for a period of 24 months.
All securities issued as part of the Private
placement are subject to a statutory four-month hold period from
their issue date 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. The
Private placement is scheduled to close on February 28th, 2020.
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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