DIAGNOS announces $3.3M debenture financing

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By CPE News

Brossard, QC (pcJ News Briefs) – DIAGNOS Inc. (TSX-V: ADK), a leader in early detection of critical health issues through the use of Artificial Intelligence, intends to close a private placement of up to 330 debenture units for gross proceeds of up to $3,300,000.

Each debenture unit consists of one secured convertible and redeemable debenture in $10,000 principal amount with a 3-year term and 10% annual interest, and 20,000 warrants with each warrant entitling the holder to purchase one common share at a price of $0.22 per share for a period of 18 months from the date of issuance.

Proceeds will be used to develop new geographical markets and to fund operating and product development expenses.

DIAGNOS has retained the services of Echelon Wealth Partners, Industrial Alliance Securities and Leede Jones Gable, to act as referral agents in connection with the financing. The finders are entitled to a cash commission of 7% calculated on gross proceeds attributable to each of them.

Founded in 1998, 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 cost-effective tool for screening large numbers of patients, in real-time and has been approved by regulatory authorities including Health Canada, US Food and Drug Administration, the European Union and in Mexico.

photo credit: DIAGNOS