Business
DIAGNOS Announces Closing of Private Placement
BROSSARD, Quebec, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Diagnos Inc. (“DIAGNOS” or the...
About this update from Diagnos Inc.
DIAGNOS Announces Closing of Private Placement BROSSARD, Quebec, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Diagnos Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK, OTCQB: DGNOF, FWB: 4D4A), a pioneer in early detection of critical health issues using advanced technology based on Artificial Intelligence ( AI ), announces that it has closed a non-brokered private placement (“Private placement”), initially announced on September 3, 2025, of 10 units (each a “Unit”) issued at a price of $10,000 per Unit, for gross proceeds of $100,000. Each Unit consists of: One $10,000 unsecured convertible debenture (each a “Debenture”), and 10,000 stock warrants (each a “Warrant”). Each Debenture has a term of 12 months ending on September 5, 2026 (the “Term”) and bears interest at the annual rate of 10% payable in cash on a semi-annual basis. At the option of the holder of the Debenture, the principal amount may be converted, at any time during the Term, into common shares of the Corporation (each a “Share”) at a price of $0.28 per Share. Each Warrant entitles the holder to purchase one Share at a price of $0.40 per Share, at any time during the Term, The proceeds from the Private placement will be used mainly to fund product development, commercialization of AI-based screening services as well as general and administrative expenses. The Units have been subscribed by one director of the Corporation. The director is considered a “related party” of the Corporation within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction is exempt from the valuation requirement and the minority approval requirement prescribed in MI 61-101, based on sections 5.5(a) and 5.7(1)(a), as the fair market value of the related party participation in the Private placement does not exceed 25% of the Corporation’s market capitalization. The board of directors of the Corporation has reviewed and approved the Private placement to ensure that it was in the best interest of the Corporation and its shareholders. All securities to be issued as part of the Private placement are subject to a statutory hold period ending on January 6, 2026. The Private placem...