BROSSARD, Quebec, June 29, 2018 (GLOBE NEWSWIRE) — 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), provides updates on financing activities previously announced on June 14, 2018.
Private placement of units
The Corporation announces a new closing date of July 4th, 2018 in connection with the private placement of units (each a “Unit”) for gross proceeds of up to $1,200,000. Each Unit consists of:
- One Secured, Convertible and Redeemable Debenture (“Debenture”), 3-year term, 10% annual interest, principal of $50,000 per Debenture, and
- 200,000 stock warrants (each a “Stock warrant”) entitling the holder to purchase one common share (“Share”) per Warrant at a price of $0.15 per Share, for a period of 18 months from the date of issuance of the Stock warrant.
Private placement – shares
The Corporation announces the cancellation of 800,000 units (each a “Share-unit”), for gross proceeds of $60,000, in connection with the $120,000 private placement of common shares and stock warrants. Each Share-unit consists of;
- one common share (“Share”), and
- one stock warrant (“Warrant”) entitling the holder to purchase one Share per Warrant at a price of $0.10 per Share, for a period of 18 months from the date of issuance of the Warrant.
The cancellation is subject to receipt of all required regulatory 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.
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 (“POC”). 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 about DIAGNOS is available at www.diagnos.com and www.sedar.com.
For further information, please contact:
|Mr. André Larente, President||Mr. Josh Falle|
|DIAGNOS Inc.||Momentum PR|
|Tel: 450-678-8882 ext. 224||Tel: 514-416-4656|
|[email protected]||[email protected]|
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 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 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.