BROSSARD, QUEBEC–(Marketwired – April 25, 2016) – DIAGNOS Inc. (“DIAGNOS” or “the Corporation”) (TSX VENTURE:ADK), a leader in healthcare technical services including screening, software and algorithm development, data analysis, and image processing, announces a $150,000 financing in the form of short term debt and bonus share warrants.
DIAGNOS has entered into an agreement with Mr. Richard F. Wood who is lending the Corporation $150,000 in the form of a one-year unsecured and non-convertible loan, bearing interest at twelve percent (12%) per year. Interest is payable semi-annually in equal installments. At any time during the term and at its sole option, the Corporation may proceed with early repayment of the principal and/or interest on the loan. As a loan bonus, the Corporation is granting Mr. Richard F. Wood 1,500,000 non-transferable share warrants (each a “Warrant”) enabling its holder to purchase 1,500,000 shares of the Corporation at a price of $0.05 per share for a period of twelve months (the “Loan Bonus”).
The loan proceeds will be used to fund operating and development expenses related to the products of the Corporation.
The Warrants and underlying common shares are subject to a four-month hold period from the issuance date of the Warrants. The Loan Bonus remains subject to the final approval of the TSX Venture Exchange. All monies quoted in this press release were stated and paid in lawful money of Canada, unless otherwise specified.
DIAGNOS is a publicly-traded Canadian corporation with a mission to improve the quality of patients’ lives and minimize the economic burden of vision loss. Computer Assisted Retinal Analysis (CARA) is the Company’s proprietary tele-ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care (POC) and comprises: image upload, image enhancement automated pre-screening, grading by a specialist, and referral to a specialist. CARA’s 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 approved by regulatory authorities including Health Canada, the U.S. Food and Drug Administration, and the European Union.
This document contains forward-looking information that involves risks and uncertainties, including without limitation, statements pertaining to the Private Placement and its use of proceeds. 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. Unless required under law, DIAGNOS will not update this forward-looking information to reflect new events or circumstances
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.