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DIAGNOS Announces Closing of Private Placement

Feb 05, 2025 - financialpost.com
DIAGNOS Inc., a Canadian corporation specializing in early detection of health issues using AI technologies, announced the closing of a non-brokered private placement, raising $2,014,611 through the issuance of 6,715,370 units at $0.30 per unit. Each unit comprises one common share and one warrant, with each warrant exercisable to purchase an additional share at $0.40 for 18 months. The funds will support product development, commercialization of AI-based screening services, regulatory affairs, and general operations.

In connection with the placement, DIAGNOS paid $39,246.72 in cash commissions and issued 130,821 finder’s warrants to five firms. These finder’s warrants allow the purchase of shares at $0.40 for 18 months. The securities are subject to a hold period until June 6, 2025, and the placement's closing is contingent on necessary approvals, including from the TSX Venture Exchange. DIAGNOS is known for its FLAIRE AI platform and CARA tool, which enhances retinal image analysis for patient screening.

Key takeaways:

  • DIAGNOS Inc. closed a non-brokered private placement of 6,715,370 units at $0.30 per unit, raising $2,014,611.
  • Each unit consists of one common share and one common share warrant, exercisable at $0.40 per share for 18 months.
  • The net proceeds will fund AI-based screening services, regulatory affairs, and general operations.
  • All securities issued are subject to a statutory hold period ending June 6, 2025.
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