DIAGNOS Corrects Private Placement Details: A Closer Look

In a recent development, DIAGNOS Inc. ("DIAGNOS” or the "Corporation”) (TSX Venture: ADK) (OTCQB: DGNOF) has announced the closing of a non-brokered private placement, with revised details from the original press release. The corrected announcement, dated February 14, 2025, provides the accurate number of units issued, gross proceeds, and cash remuneration to finders. Let's delve into the revised details and their potential impact on the company's long-term growth prospects.

The corrected private placement consists of 6,715,369 units issued at a price of $0.30 per unit, for gross proceeds of $2,014,610.70. Each unit comprises one common share and one common share warrant, with the warrants exercisable at a price of $0.40 per share for a period of 18 months ending August 5, 2026. In connection with the closing, the Corporation paid cash commissions totalling $67,302.72 and issued an aggregate number of 130,821 finder's warrants to five qualified firms acting at arm's length.



The net proceeds from the private placement will be used to fund product development and commercialization of AI-based screening services, regulatory affairs, and general and administrative operations. This strategic move allows DIAGNOS to invest in its core competencies and expand its offerings, potentially leading to increased market share and revenue.

The revised cash commission and finder's warrant issuance impact the overall cost of the private placement for DIAGNOS. The increased cash commission of $67,302.72 (up from $39,246.72) represents a 71.5% increase in cash expenses for the Corporation. However, the number of finder's warrants issued remains the same at 130,821. This revision affects the net proceeds available for DIAGNOS, as the increased cash commission reduces the net amount raised from the private placement.

In conclusion, DIAGNOS has corrected the details of its private placement, with the revised terms allowing the company to raise additional funds to support its long-term growth prospects. By investing in product development, commercialization, and regulatory affairs, DIAGNOS aims to accelerate its growth and better compete in the market for early detection of critical health issues using AI technologies.