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  • DIAGNOS (ADK) has closed the final tranche of a non-brokered private placement
  • Under the final tranche, the company raised gross proceeds of $350,000
  • Combined with the first tranche, the company raised total gross proceeds of $850,000
  • Each unit consists of one unsecured convertible debenture and 50,000 stock warrants
  • DIAGNOS is a Canadian corporation dedicated to the early detection of critical health problems
  • Diagnos Inc. (ADK) opened trading at C$0.18

DIAGNOS (ADK) has closed the final tranche of a non-brokered private placement.

Under the final tranche, the company issued seven additional units at a price of $50,000 per unit for gross proceeds of $350,000.

Combined with the closing of the first tranche announced on November 25, 2022, the company raised gross proceeds of $850,000. 

Each unit consists of one unsecured convertible debenture and 50,000 stock warrants. Each debenture has a term of 36 months ending December 9, 2025, and bears interest at the annual rate of 10 per cent. The principal amount of the debenture may be converted, at any time during the term, into common shares of the corporation at a price of $0.22 per share. Any accrued interest on the principal at the time of conversion will be immediately payable in cash.

Each warrant entitles the holder to purchase one share at a price of $0.26 per share for a period of 18 months ending June 9, 2024. 

Warrants are subject to an acceleration clause.

The proceeds will be used primarily to fund product development, commercialization of AI-based screening services, as well as general and administrative activities.

All securities issued are subject to a statutory hold period ending April 10, 2023.

DIAGNOS is a Canadian corporation dedicated to the early detection of critical health problems based on its FLAIRE Artificial Intelligence (AI) platform.

Diagnos Inc. (ADK) opened trading at C$0.18.


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