DIAGNOS raises $100,000 through private placement of convertible units

DIAGNOS Inc. (TSX Venture: ADK, OTCQB: DGNOF, FWB: 4D4A) announced a non-brokered private placement of 10 units priced at $10,000 each for gross proceeds of $100,000.

Each unit consists of one $10,000 unsecured convertible debenture and 10,000 stock warrants. The debentures carry a 12-month term with 10% annual interest payable in cash. Holders may convert the principal amount into common shares at $0.28 per share during the term.

The warrants allow holders to purchase one common share at $0.40 per share at any time during the 12-month period.

One company director has committed to subscribe for all units in the private placement. The company stated proceeds will fund product development, commercialization of AI-based screening services, and general administrative expenses.

All securities issued will be subject to a four-month statutory hold period. The placement requires approvals including from the TSX Venture Exchange, receipt of funds, and execution of formal documentation.

DIAGNOS develops artificial intelligence technology for early detection of eye-related health problems. The Brossard, Quebec-based company aims to provide healthcare clinicians with enhanced diagnostic tools to improve patient outcomes.

All monetary amounts are denominated in Canadian dollars, according to the company's statement.

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