Perimeter Medical Imaging AI Closes C$3.6 Million Non-Brokered Private Placement

Executive Summary

• Perimeter Medical Imaging AI closed a non‑brokered private placement of 19,757,306 units at C$0.18 per unit, generating gross proceeds of approximately C$3.56 million.
• Each unit consists of one common share and one warrant to purchase an additional share at C$0.35 for up to 60 months.
• Proceeds will be used to accelerate commercialization of the S‑Series device, fund development of the upcoming B‑Series AI‑enabled system, and support general corporate purposes.

Key Details

• Units Issued: 19,757,306 units at C$0.18 each → Gross proceeds: C$3,556,315.
• Unit Composition: 1 common share + 1 warrant (exercise price C$0.35, exercisable for 60 months).
• Insider Participation:
• CEO Adrian Mendes purchased 11,656,642 units for $2,098,196 CAD.
• Insider Mr. Schiralli purchased 1,111,111 units for ≈ $200,000 CAD.
• Hold Period: All common shares and warrants subject to a four‑month statutory hold period under applicable securities legislation.
• Finder’s Fees Paid: C$20,673.
• Use of Proceeds:
• Continue commercialization of the S‑Series OCT system.
• Ongoing product development, including the AI‑enabled B‑Series device pending FDA decision (expected H1 2026).
• Working capital and general corporate purposes.
• Regulatory Disclosures: Early warning reports to be filed for insider acquisitions per NI 62‑103; related‑party transaction deemed exempt from formal valuation/minority approval under TSX‑V Policy 5.9 and MI 61‑101.

Notable Quotes

“This private placement is an important milestone that strengthens our balance sheet through the anticipated FDA decision in the first half of 2026, while supporting near‑term execution of our commercial strategy.” – Adrian Mendes, CEO

Materiality Assessment: Material – Positive (significant cash infusion to fund commercialization and product development).