DIAGNOS closes $100,000 private placement with convertible debentures

DIAGNOS Inc. (TSX Venture: ADK, OTCQB: DGNOF, FWB: 4D4A) completed a non-brokered private placement raising $100,000 through the sale of 10 units priced at $10,000 each, according to a company statement.

Each unit consists of a $10,000 unsecured convertible debenture and 10,000 stock warrants. The debentures carry a 12-month term ending September 5, 2026, with a 10% annual interest rate payable semi-annually. Holders can convert the principal amount into common shares at $0.28 per share during the term.

The warrants allow holders to purchase one share at $0.40 per share anytime during the 12-month period. All securities issued are subject to a statutory hold period ending January 6, 2026.

One director of the corporation subscribed to all units. The transaction qualifies as a related party transaction under Multilateral Instrument 61-101 but is exempt from valuation and minority approval requirements because the related party participation does not exceed 25% of the corporation's market capitalization.

The company plans to use proceeds for product development, commercialization of AI-based screening services, and general administrative expenses. The private placement requires approval from the TSX Venture Exchange and completion of formal documentation.

DIAGNOS develops AI-powered technology for early detection of eye-related health problems.

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