- DIAGNOS (ADK) has closed a non-brokered private placement for gross proceeds of $350,000
- The company issued 35 units at $10,000 per unit
- Each debenture has a term of 36 months and bears interest at the annual rate of 10 per cent
- The proceeds will be used mainly to fund product development
- Diagnos provides software-based interpretation services to assist health specialists in the detection of diabetic retinopathy
- Diagnos Inc. (ADK) is down 2.63 per cent on the day, trading at C$0.185 per share at 10 am ET
DIAGNOS (ADK) has closed a non-brokered private placement for gross proceeds of $350,000.
The company issued 35 units at $10,000 per unit. Each unit consists of one unsecured convertible debenture and 10,000 stock warrants.
Each debenture has a term of 36 months ending August 31, 2025 and bears interest at the annual rate of 10 per cent. The principal amount of the debenture may be converted into common shares at a price of $0.22 per share. Any interest accrued on the principal, at the time of conversion will be immediately payable in cash.
Each warrant entitles the holder to purchase one share for a period of 18 months ending February 29, 2024.
Warrants are subject to an acceleration clause.
The proceeds will be used mainly to fund product development, commercialization of AI-based screening services and as general and administrative activities.
All securities issued are subject to a statutory hold period ending January 1, 2023. Diagnos provides software-based interpretation services to assist health specialists in the detection of diabetic retinopathy. The company provides image analysis services through CARA (Computer Assisted Retinal Analysis).
Diagnos Inc. (ADK) is down 2.63 per cent on the day, trading at C$0.185 per share at 10 am ET.
