DIAGNOS Launches Exciting Private Placement Initiative
DIAGNOS Unveils New Private Placement Deal
DIAGNOS Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK, OTCQB: DGNOF, FWB: 4D4A) is taking a significant step in its mission to revolutionize health detection by announcing a private placement aimed at raising funds that will drive the development of their cutting-edge technologies based on Artificial Intelligence (AI).
The Details of the Private Placement
The company has launched a non-brokered private placement comprising 10 units, with each unit priced at $10,000, which will contribute to total gross proceeds of $100,000. Investors will receive a well-structured offering that includes:
Components of Each Unit
Each unit will include one unsecured convertible debenture valued at $10,000, alongside stock warrants. Specifically:
- Each debenture comes with a term of 12 months, featuring a competitive interest rate of 10%, which will be paid in cash.
- Holders have the option to convert the principal amount into common shares of DIAGNOS at a conversion price of $0.28 per share any time within the term.
Warrant Details
Furthermore, each unit grants holders 10,000 warrants. These warrants provide the opportunity to purchase one share of DIAGNOS at $0.40, giving investors a valuable option to increase their stake in the corporation as it progresses.
Strategic Use of Proceeds
The funds garnered from this private placement are earmarked primarily for product development, with a focus on facilitating the commercialization of AI-driven screening services. Additionally, a portion will support general and administrative expenses essential for corporate operations.
A noteworthy point is that one director of DIAGNOS has committed to subscribing for the entire offering, reflecting confidence in the company's strategic direction and growth potential.
Regulatory Considerations
It's important to note that security issuance under this private placement will be subject to a statutory hold period of four months. The completion of the placement is contingent upon receiving all necessary approvals, including those from the TSX Venture Exchange.
About DIAGNOS and Its Mission
DIAGNOS continues to set the stage for innovation in the healthcare sector, particularly in early detection of eye-related health issues. By harnessing the power of AI, DIAGNOS aspires to enhance diagnostic precision, improve workflow efficiency, and ultimately achieve better patient outcomes globally.
For those interested in learning more about DIAGNOS and its initiatives, further information can be accessed through their official platforms.
Frequently Asked Questions
What is the significance of the private placement?
The private placement aims to raise funds to further develop DIAGNOS's AI-driven health screening technologies.
How will the funds from the placement be used?
Proceeds will primarily support product development and commercialization of AI-based services, along with administrative costs.
Who is subscribing to the private placement?
One of the directors of DIAGNOS has expressed a commitment to subscribe for all units of the private placement.
What is the duration of the convertible debenture?
The convertible debenture has a term of 12 months with a 10% annual interest rate.
What are DIAGNOS's goals in utilizing AI?
The goal is to improve diagnostic accuracy, streamline healthcare workflows, and enhance overall patient outcomes on a global scale.
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