The private placement involved issuing 5,000,000 units at $0.02 per unit, each comprising one common share and one warrant. The warrants allow holders to acquire additional shares at $0.05 each for 24 months, with potential acceleration of the expiry date. Predictmedix is leveraging exemptions from certain regulatory requirements due to the insider participation. The company emphasizes that its securities are not registered under U.S. securities laws and highlights various risks, including regulatory approvals and market uncertainties.
Key takeaways:
- Predictmedix AI Inc. successfully closed the third tranche of its non-brokered private placement, raising $100,000 CAD, with significant insider participation.
- The company issued 5,000,000 units at $0.02 per unit, each consisting of one common share and one warrant, with the warrant allowing the purchase of an additional share at $0.05 within 24 months.
- Predictmedix is launching Smart Health AI Stations, focusing on the U.S. market for strategic deployment to showcase their AI-driven health management solutions.
- Insider participation in the private placement is considered a "related party transaction" under MI 61-101, but exemptions apply due to the transaction's value relative to the company's market capitalization.