DIAGNOS Inc.
TSX VENTURE : ADK

DIAGNOS Inc.

June 07, 2016 15:54 ET

DIAGNOS Announces Short Term Financing

BROSSARD, QUEBEC--(Marketwired - June 7, 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 $150,000 financing in the form of short term debt and bonus share warrants.

DIAGNOS and an arm's length person (the "Lender") have entered into a loan agreement for a principal amount of $150,000 in the form of an unsecured and non-convertible loan, bearing interest at twelve percent (12%) per year (the "Loan"), with a term of up to one year. Interest is payable semi-annually in equal installments. As a loan bonus, the Corporation is granting the Lender 1,250,000 non-transferable share warrants (each a "Warrant") enabling its holder to purchase 1,250,000 shares of the Corporation at a price of $0.06 per share for a period of twelve months (the "Loan Bonus").

The loan proceeds will be used to fund operating expenses 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 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.

About DIAGNOS

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.

Forward-looking information

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.

Contact Information

  • Andre Larente
    President
    Telephone: 1-877-678-8882 or (450) 678-8882, ext.: 224