QScreen arranges $500,000 private placement

Executive Summary

• QScreen AI Inc. has arranged a non-brokered private placement to raise up to $500,000 in gross proceeds.
• The company intends to issue up to 10 million units at a price of $0.05 per unit.
• Proceeds will be used to advance commercialization initiatives, including pilot discussions and operational integration, as well as to support working capital requirements.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 10,000,000 units.
• Price Per Unit: $0.05.
• Gross Proceeds: Up to $500,000.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to purchase one-half of a common share.
  • Exercise Price: $0.15 per half-share.
  • Term: 36 months following the closing date.
  • Acceleration Clause: If the volume-weighted average price (VWAP) of common shares on the Canadian Securities Exchange is equal to or greater than $0.30 for any 10 consecutive trading days (starting four months and one day after closing), the company may accelerate the warrant expiry date to 30 days following written notice to holders.
• Use of Proceeds:
  • Advancing structured pilot discussions and operational integration planning with select organizations.
  • Supporting working capital requirements associated with scaling commercialization efforts across enterprise-scale health care, industrial, and technology sectors.
• Market Interest: Preliminary indications of interest have been received from select investors.

Notable Quotes

• None provided in the text.