NetraMark raises up to $3.5 million in private placement

NetraMark Holdings Inc. (CSE: AIAI) (OTCQB: AINMF) (Frankfurt: PF0) announced a non-brokered private placement offering of up to 3,500,000 units at $1.00 per unit for aggregate gross proceeds of up to $3.5 million Canadian dollars.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to acquire one additional common share at an exercise price of $1.35 per share for two years from the closing date.

The company, which develops artificial intelligence solutions for pharmaceutical clinical trials, will use the net proceeds for general working capital and corporate purposes. The funds will support continued advancement and commercialization of its NetraAI platform and ongoing biopharmaceutical engagements.

The offering will be completed under exemptions from prospectus requirements under Canadian securities laws. The unit shares and warrants will be subject to a statutory four month and one day hold period from the date of issue. None of the units will be registered under the U.S. Securities Act of 1933.

NetraMark focuses on developing generative artificial intelligence and machine learning solutions for the pharmaceutical industry. The company's NetraAI platform uses topology-based algorithms to parse patient datasets into subsets for analysis in clinical trials.

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