DIAGNOS Closes Second Tranche of Private Placement
BROSSARD, QUEBEC--(Marketwired - Oct. 23, 2017) - DIAGNOS Inc. ("DIAGNOS" or the "Corporation") (TSX
VENTURE:ADK) (OTCQB:DGNOF), a leader in early detection of critical health issues through the use of Artificial Intelligence,
announces the closing of a second tranche of 2 units (each a "Unit"), for gross cash receipts of $100,000, as part of a private
placement ("Private Placement") initially announced on October 16, 2017. The aggregate cash receipts from the Private Placement
amount to $1,000,000. Each Unit consists of:
- One Unsecured Convertible and Redeemable Note (each a "Note"), $50,000 principal amount, 3-Year Term, 10% Annual
Interest, and
- 50,000 Stock Warrants (each a "Warrant') entitling the holder to purchase one Common Share ("Share") of the
Corporation per Warrant at a price of $0.22 per Share for a period of 18 months from the date of issuance.
At the sole option of the holder of the Notes, the principal amount of the Notes may be converted at any time during the
3-year term, in whole or in part, into Shares of the Corporation at a price of $0.16 per Share. Any accrued interest on the
principal, at time of conversion by the holder, is immediately payable in cash.
If, at any time after the first anniversary of the Note and until maturity, the volume weighted average price of the Shares on
the TSX Venture Exchange is equal to or higher than $0.28 for 20 consecutive trading days, the Notes shall be redeemable, in
whole or in part, at the sole option of the Corporation, into Shares of the Corporation at a price of $0.16 per Share. Any
accrued interest on the principal, at time of redemption, will be immediately payable in cash.
The proceeds will be used to purchase ophthalmic equipment to deliver services to our client ISSSTE in Mexico and to fund
operating and product development expenses.
The Notes are sold in Canada on a prospectus-exempt basis and the common shares underlying the Notes and Warrants are subject
to a statutory four-month hold period.
This Private Placement is subject to receipt of all required regulatory approvals, including the 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 ("POC"). 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 approved by
regulatory authorities including Health Canada, the U.S. Food and Drug Administration, the European Union and in Mexico.
Additional information is available at www.diagnos.com and www.sedar.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.