Offering slated to fund business development and product development
By Devika Patel
Knoxville, Tenn., Jan. 11 – Diagnos Inc. said it plans a C$1.5 million private placement of units.
The company will sell 30 million units of one common share and one half-share warrant at C$0.05 per unit, with each whole warrant exercisable at C$0.08 for one year. The strike price is a 100% premium to C$0.04, the Jan. 8 closing share price.
Proceeds will be used for business development and product development, as well as general corporate and working capital purposes.
Based in Brossard, Quebec, Diagnos develops data-mining software used in the fields of health-care, natural resources and entertainment.
Issuer: | Diagnos Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.5 million
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Units: | 30 million
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Price: | C$0.05
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.08
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Pricing date: | Jan. 11
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Stock symbol: | TSX Venture: ADK
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Stock price: | C$0.04 at close Jan. 8
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Market capitalization: | C$4.78 million
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