- Diagnos (ADK) has closed its non-brokered private placement for gross proceeds of $500,000
- The company issued 10 units priced at $50,000 per unit
- Each unit consists of one unsecured convertible debenture and 50,000 stock warrants
- Diagnos provides software-based interpretation services to assist health specialists to detect critical health problems such as diabetic retinopathy
- Diagnos Inc. (ADK) is down 2.56 per cent, trading at C$0.19 per share at 12:39 pm ET
Diagnos (ADK) has closed its non-brokered private placement for gross proceeds of $500,000.
The company issued 10 units priced at $50,000 per unit. Each unit consists of one unsecured convertible debenture and 50,000 stock warrants.
Each debenture unit has a term of 36 months ending November 25, 2025, at an annual interest rate of 10 per cent. At the option of the holder, the principal amount of the debenture may be converted, at any time during the term, into common shares of the company at $0.22 per share. At the time of conversion, any accrued interest on the principal will become payable in cash.
Each warrant is exercisable into one share at $0.26 per share for a period of 18 months ending May 25, 2024.
The company will use the proceeds to fund product development, commercialization of AI-based screening services, as well as general and administrative activities.
The company paid finder’s fees consisting of $15,000 in cash commission and 68,181 finder’s warrants. Each finder’s warrant entitles the finder to purchase one share at $0.26 per share for a period of 18 months ending May 25, 2024.
All securities issued are subject to a statutory hold period ending March 26, 2023.
Diagnos provides software-based interpretation services to assist health specialists to detect critical health problems such as diabetic retinopathy.
Diagnos Inc. (ADK) is down 2.56 per cent, trading at C$0.19 per share at 12:39 pm ET.
