BROSSARD, QUEBEC–(Sep 13, 2016) – Diagnos Inc. (TSX VENTURE:ADK) (the “Corporation” or “Diagnos”) announces the closing of its previously announced rights offering. Under the rights offering, the Corporation issued 25,005,963 common shares at $0.04 per share for aggregate gross proceeds of $1,000,238.52.
Of the 25,005,963 common shares distributed, 5,183,831 were distributed to persons who were insiders of the Corporation before the distribution under the rights offering.
Under the rights offering, 10,646,546 common shares were distributed pursuant to the basic subscription privilege, of which 3,055,331 shares were distributed to persons who were insiders before the distribution, and 7,591,215 shares were distributed to the remaining subscribers.
Under the rights offering, 14,359,417 common shares were distributed pursuant to the additional subscription privilege, of which 2,128,500 shares were distributed to persons who were insiders before the distribution, and 12,230,917 shares were distributed to the remaining subscribers.
Leede Jones Gable will be paid a fee of approximately $31,700 for having acted as manager under the rights offering and solicited the exercise of rights thereunder.
The Corporation intends to use the net proceeds of the rights offering for general working capital, the delivery of healthcare services and healthcare product and business development.
Upon closing of the rights offering, a total of 131,169,786 common shares of the Corporation are presently issued and outstanding.
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 Corporation’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.
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