DiagnosTear Technologies Inc. Announces Closing of Private Placement of Units

Executive Summary

• DiagnosTear Technologies Inc. closed a non‑brokered private placement of 1,850,000 units for CDN $925,000 at $0.50 per unit.
• Each unit consists of one common share and one common share purchase warrant exercisable at $1.00 per share for 18 months (until May 18, 2027).
• Net proceeds will be used for working capital and general corporate purposes.

Key Details

• Offering Size: CDN $925,000 total gross proceeds.
• Units Issued: 1,850,000 units at $0.50 per unit.
• Unit Composition: 1 common share + 1 common share purchase warrant per unit.
• Warrant Terms: Exercise price $1.00; term of 18 months from closing date (expires May 18, 2027).
• Hold Period: Securities subject to a hold period of four months and one day from issuance under Canadian securities law.
• Regulatory Conditions: Closing contingent on receipt of required approvals, including acceptance by the Canadian Securities Exchange (CSE).
• Use of Proceeds: Working capital and general corporate purposes.
• Finder’s Fees: None paid in connection with this offering.
• U.S. Offering Restrictions: No securities registered under the U.S. Securities Act; cannot be offered or sold in the United States absent registration or exemption.

Notable Quotes

(No direct quotes were provided in the release.)