DIAGNOS Closes Oversubscribed Private Placement Successfully
BROSSARD, Quebec — Diagnos Inc. (“DIAGNOS” or the “Company”) (TSXV: ADK and OTCQB: DGNOF) is excited to share the results of its successful closing of an upsized private placement offering. This initiative raised significant funds, with a total of 13,337,262 units sold at an issue price of $0.30 per unit, yielding aggregate proceeds of $4,001,178.60.
Leadership and Legal Guidance
The Offering was orchestrated by Centurion One Capital Corp., who acted as the lead agent in this transaction, ensuring the process was seamless and efficient. Legal representation included Borden Ladner Gervais LLP for the Company and MLT Aikins LLP for the Lead Agent, guiding them through crucial regulatory frameworks.
Insights from the Company President
André Larente, the President of DIAGNOS, expressed enthusiasm regarding the completion of this oversubscribed funding round. He noted, "DIAGNOS is pleased to announce this accomplishment, reflecting strong investor interest. The expertise brought by Centurion One Capital, combined with strategic investors, has positioned us to capitalize effectively on current market demand. This funding is vital for advancing our regulatory initiatives with Health Canada and the FDA, enhancing product development, and broadening commercial deployments. We are committed to delivering long-term value to our stakeholders."
Utilization of Funds
The net proceeds from this Offering will strategically support various key areas, including regulatory affairs, product development, and overall business growth. With these funds, DIAGNOS aims to strengthen its position within the healthcare sector, focusing on innovative solutions for eye health.
Details on Unit Composition
Each unit comprises one common share and one purchase warrant. The securities issued are subject to a statutory hold period of four months and one day, concluding on April 6, 2026. Each warrant enables its holder to purchase an additional share at $0.40 for eighteen months post-closing.
Regulatory Compliance and Related Transactions
In compliance with the regulations, the Company disclosed that certain related parties, comprising two directors and one officer, participated in this Offering, collectively acquiring 316,665 units. This transaction, categorized as a “related party transaction,” adheres to the exemptions specified in Multilateral Instrument 61-101, safeguarding minority shareholders' interests.
Investment Notifications
The Company paid a cash commission amounting to $153,974.40, in addition to issuing 666,863 units as a corporate finance fee, accompanied by 513,248 broker warrants. Each broker warrant can be exercised to obtain a unit at the issue price until June 6, 2027.
About DIAGNOS Inc.
DIAGNOS is dedicated to the early detection of critical eye-related health issues. By leveraging cutting-edge Artificial Intelligence technology, DIAGNOS enhances diagnostic accuracy, optimizes workflows, and improves patient outcomes globally. The commitment to innovation is at the heart of their mission.
About Centurion One Capital Corp.
Centurion One Capital cultivates visionary entrepreneurship amongst its clientele, driving transformative growth through capital investment and expertise. Their approach fosters partnerships based on shared values of respect, integrity, and a commitment to excellence in execution.
Frequently Asked Questions
What is the purpose of the $4 million raised by DIAGNOS?
The funds will support regulatory initiatives, accelerate product development, and expand commercial deployments in the eye health sector.
Who led the private placement for DIAGNOS?
Centurion One Capital Corp. served as the lead agent and sole bookrunner for this oversubscribed private placement.
What are the benefits of the units issued in the Offering?
Each unit consists of one common share and one warrant, offering investors opportunities for further participation in the Company's growth.
How does DIAGNOS utilize Artificial Intelligence?
DIAGNOS employs AI technology to improve diagnostic accuracy and streamline workflows in treating eye-related health issues.
What is the impact of the related party transaction?
Related parties participated in the Offering, which helps align the interests of management with those of shareholders, ensuring a commitment to the Company’s future success.
