DIAGNOS Completes Successful Private Placement for Growth

DIAGNOS Completes a Noteworthy Private Placement

Today, DIAGNOS Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK) (OTCQB: DGNOF) has successfully closed a non-brokered private placement, marking a key milestone in the company’s mission to enhance health care through Artificial Intelligence (AI). The placement, which involved issuing 8,333,333 units at a price of $0.30 per Unit, raised gross proceeds of approximately $2.5 million.

Details of the Private Placement

Each Unit in the private placement consists of one common share and one common share warrant. In conjunction with the closing of this placement, subscribers have been issued a total of 8,333,333 Warrants, with each Warrant allowing the purchase of an additional common share at a price of $0.40 per Share. This exercise period extends for 18 months, concluding on March 20, 2026.

Funding Future Innovations and Operations

The funds raised through this private placement will primarily be allocated towards the development and commercialization of DIAGNOS's AI-based screening services. This investment is critical for supporting both product development and general administrative operations, ensuring the company can continue to lead in the early detection of health issues.

Regulatory Compliance and Security Hold

It is important to note that all securities issued as part of this private placement will be subject to a statutory hold period that lasts until January 21, 2025. The closing of the private placement is contingent upon receiving all necessary approvals, including those from the TSX Venture Exchange.

Gratitude and Acknowledgments

DIAGNOS expresses sincere gratitude to the family office that participated in this private placement. Their support underscores the confidence investors have in DIAGNOS's mission and innovative approach to health care.

Clarifications Regarding Recent Announcements

In a recent management information circular, the first paragraph of Section 6 mistakenly presented a Record Date. To clarify, the Board of the Corporation set the Record Date as a date to determine the registered holders of voting shares entitled to receive notice of the Meeting. All holders of common shares as of this date are invited to participate in the Meeting.

About DIAGNOS and Its Innovations

DIAGNOS is a Canadian corporation focused on the early detection of critical health problems by utilizing its proprietary FLAIRE AI platform. This technology enables the rapid modification and development of applications, including CARA (Computer Assisted Retina Analysis). CARA uses advanced image enhancement algorithms to provide clearer, more accurate retinal images, making it a valuable tool for real-time screening of a large number of patients.

With the recent boost from the private placement, DIAGNOS is poised to continue its growth and further contribute to transforming health screening processes.

Frequently Asked Questions

What was the purpose of the private placement?

The private placement aimed to raise funds for product development and the commercialization of AI-based screening services.

How much money did DIAGNOS raise?

DIAGNOS raised gross proceeds of approximately $2.5 million from the private placement.

What are the benefits of the common share warrants issued?

The common share warrants allow subscribers to purchase additional shares at a set price, potentially providing further investment opportunities in the company.

What is the FLAIRE AI platform?

The FLAIRE AI platform is DIAGNOS's technology for early health issues detection, enabling efficient development of applications like CARA.

When is the hold period for the securities issued?

The securities issued as part of the private placement are subject to a statutory hold period lasting until January 21, 2025.

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