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DIAGNOS Announces Closing of Private Placement

BROSSARD, Quebec, Dec. 12, 2018 (GLOBE NEWSWIRE) -- DIAGNOS Inc. (“DIAGNOS”, the “Corporation” or the “Issuer”) (TSX Venture: ADK) (DGNOF), a leader in early detection of critical health issues through the use of Artificial Intelligence, announces the closing of a private placement (“Private Placement”) of 6,650,000 units (each a “Unit”) issued at $0.05 per Unit for gross proceeds of $332,500. Each Unit consists of;

  1. one common share (“Share”), and

  2. one stock warrant (“Warrant”) entitling the holder to purchase one Share per Warrant at a price of $0.06 per Share, for a period of 18 months ending June 12, 2020.

The proceeds will be used mainly to fund sales and marketing as well as administrative expenses.

Shares issued as part of the Private Placement as well as the underlying Shares to be issued upon exercise of the Warrants are subject to a statutory four-month hold period ending April 12, 2019.

The Private Placement is subject to final receipt of all required approvals, including the final approval of the TSX Venture Exchange, as well as the execution of formal documentation.

All monies quoted in this press release shall be stated and paid in lawful money of Canada.

About DIAGNOS
DIAGNOS is a publicly-traded Canadian corporation with a mission of early detection of critical health issues through the use of its Artificial Intelligence (“AI”) tool CARA (Computer Assisted Retina Analysis). CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care. CARA’s Artificial Intelligence image enhancement algorithms make standard retinal images sharper, clearer and easier to read. CARA is accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras, and is EMR compatible. CARA is a cost-effective tool for screening large numbers of patients in real-time and has been cleared for commercialization by several regulatory authorities such as Health Canada, the U.S. Food and Drug Administration and the European Union.

Additional information is available at www.diagnos.com and www.sedar.com.

For further information, please contact:

Mr. André Larente, President Josh Falle
DIAGNOS Inc.   Momentum PR 
Tel: 450-678-8882 ext. 224 Tel: 514-416-4656 
alarente@diagnos.ca josh@momentumpr.com 

This news release contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements. DIAGNOS disclaims any intention or obligation to publically update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.