BROSSARD, Quebec, Feb. 05, 2020 (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 Artificial Intelligence (AI), announces that it has undertaken to complete a non-brokered private placement (“Private placement”) of up to 5,555,556 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 $1,000,000.
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 (i) 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 $0.20 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 10, 2020.
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. 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.
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.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.
For further information, please contact: Mr. André Larente, President DIAGNOS Inc. Tel: 450-678-8882 ext. 224