DIAGNOS Announces Private Placement

Executive Summary

• Diagnos Inc. announced a non-brokered private placement of 10 units for gross proceeds of $100,000 CAD.
• The transaction involves the issuance of unsecured convertible debentures and stock warrants, with all units subscribed by a single director.
• Proceeds are designated for product development, commercialization of AI-based screening services, and general administrative expenses.

Key Details

• Transaction Structure: Non-brokered private placement of 10 Units.
• Price and Proceeds: $10,000 per Unit; Gross proceeds of $100,000 CAD.
• Subscriber: One director of the Corporation committed to subscribe for all Units.
• Unit Composition: Each Unit consists of:
  • One $10,000 unsecured convertible debenture.
  • 10,000 stock warrants.
• Debenture Terms:
  • Term: 12 months.
  • Interest: 10% annual rate, payable in cash.
  • Conversion Option: Holder may convert principal into common shares at any time during the Term at a price of $0.28 per Share.
• Warrant Terms:
  • Exercise Price: $0.40 per Share.
  • Ratio: One Share per Warrant.
• Use of Proceeds: Funding product development, commercialization of AI-based screening services, and general and administrative expenses.
• Regulatory Conditions: Subject to TSX Venture Exchange approval, full receipt of funds, and execution of formal documentation.
• Hold Period: All securities subject to a 4-month statutory hold period.

Notable Quotes

• No direct quotes from the CEO/President were included in the provided text.