Diagnos Inc. Closes Oversubscribed $4 Million Private Placement
BROSSARD, Quebec – Diagnos Inc. (TSXV: ADK, OTCQB: DGNOF) has recently celebrated the successful closing of an upsized private placement. The offering comprised a total of 13,337,262 units, which included an over-allotment option, sold at a price of $0.30 per unit, yielding gross proceeds of $4,001,178.60.
Role of Centurion One Capital
This financing round was led by Centurion One Capital Corp., which acted as the lead agent and sole bookrunner. Legal representations were provided by Borden Ladner Gervais LLP for Diagnos, and MLT Aikins LLP guided the lead agent throughout the process. The collaboration amongst these parties has been instrumental in executing the offering successfully.
Comments from the Company President
André Larente, the President of Diagnos, expressed his satisfaction with the outcome. He stated, "We're thrilled to announce the closing of this oversubscribed financing round, which was anchored by Centurion One Capital. Their remarkable expertise and execution enabled us to leverage significant investor interest and complete this offering in a larger capacity than anticipated. The funds will primarily support our key initiatives with regulatory bodies and enhance our product development strategies, ultimately delivering long-term value to our shareholders."
Structure of the Offering
Each unit in this offering consists of a common share and a warrant for the purchase of additional shares. The shares and warrants will be subject to a four-month hold period from the closing date in accordance with Canadian securities legislation, which will conclude on a specific date in 2026. Each warrant grants the right to acquire one more share at a price of $0.40 for a period of eighteen months following the closing.
Utilization of Proceeds
The net proceeds from the placement will be employed to advance regulatory initiatives, bolster product development, expand business operations, and cover general corporate expenditures. Diagnos believes this influx of capital enhances their operational capabilities, potentially increasing positive outcomes for their stakeholders.
Transaction Details and Related Party Involvement
In conjunction with this offering, Diagnos incurred a cash commission alongside issuing 666,863 units as part of a corporate finance fee, plus 513,248 broker warrants, which allow the holders to purchase units at the issue price until June 2027. Moreover, two directors and one officer from the company took part in this offering, obtaining a total of 316,665 units, treating their participation under related party transaction regulations and obtaining requisite exemptions as provided in applicable laws.
About Diagnos Inc.
DIAGNOS is dedicated to the early detection of eye-related health issues through advanced artificial intelligence. Their mission emphasizes providing timely and accurate diagnostic information to healthcare professionals to improve patient outcomes globally. As a public corporation, DIAGNOS aims to contribute significantly to enhancing the healthcare landscape.
Future Prospects
With the successful closing of this funding round, Diagnos positions itself to further its transformative initiatives and regulatory compliance required for enhancing its product offerings. The leadership team will continue to foster partnerships and engagements that will facilitate innovation and discussion around essential eye health diagnostics.
Contact Information
For further information, please contact:
Mr. André Larente, President
DIAGNOS Inc.
Tel: 450-678-8882 ext. 224
alarente@diagnos.ca
Frequently Asked Questions
What was the total amount raised in the private placement?
The private placement raised a total of $4,001,178.60.
Who led the private placement for Diagnos?
Centurion One Capital Corp. acted as the lead agent and sole bookrunner for the offering.
What are the plans for the proceeds from the offering?
The proceeds will be utilized for regulatory affairs, product development, business development, and general corporate purposes.
What does each unit in the offering consist of?
Each unit consists of one common share and one warrant for an additional share purchase.
How long will the hold period for the securities last?
The hold period will last for four months and one day from the closing date.
