Predictmedix AI closes first tranche of financing

Executive Summary

• Predictmedix AI Inc. has closed the first tranche of its non-brokered private placement, raising gross proceeds of $460,150.
• The company issued 9,203,000 units at a price of $0.05 per unit, with significant insider participation totaling $60,000.
• Each unit includes one common share and one-half of one common share purchase warrant, exercisable at $0.15 per half-share for 36 months.

Key Details

• Transaction Structure: Non-brokered private placement, first tranche closed.
• Gross Proceeds: $460,150.
• Units Issued: 9,203,000 units.
• Price Per Unit: $0.05.
• Insider Participation: $60,000 total, subscribed by Sheldon Kales ($30,000) and Dr. Rahul Kushwah ($30,000).
• Warrant Terms: Each unit contains one-half of one common share purchase warrant.
• Warrant Exercise Price: $0.15 per half common share.
• Warrant Expiry: 36 months from the closing date.
• Acceleration Clause: If the volume weighted average price (VWAP) on the CSE is ≥ $0.30 for 10 consecutive trading days (starting 4 months and 1 day after closing), the company may accelerate warrant expiry to 30 days after written notice.
• Regulatory Context: Insider participation treated as a related party transaction under Multilateral Instrument 61-101; exemption from valuation and minority shareholder approval relied upon as fair market value does not exceed 25% of market capitalization.
• Hold Period: Statutory hold period of four months and one day from issuance date.
• Strategic Context: Financing follows active engagement with European capital markets, including the 25th MK Investment Conference in Munich and a European roadshow targeting family offices and institutional investors.

Notable Quotes

• "Notably, $60,000 of the tranche was subscribed by insiders... highlighting strong internal confidence in Predictmedix's future growth and innovation."