DiagnaMed Announces LIFE Offering of up to $650,000

TORONTO, May 15, 2024 (GLOBE NEWSWIRE) -- DiagnaMed Holdings Corp. (“DiagnaMed” or the “Company”) (CSE: DMED) (OTCQB: DGNMF), a healthcare technology company focused on brain health using AI, is pleased to announce that it is arranging a private placement of a minimum of $400,000 and a maximum of $650,000 of units (each, a “Unit”), at a price of $0.04 per Unit; (the “Offering”). The Offering is being led by EMD Financial Inc.

Each Unit will be comprised of one common share (“Common Share”) in the capital of the Company and one (1) Common Share purchase warrant (“Warrant”) of the Company. Each Warrant will entitle the holder thereof to acquire one additional Common Share at a price of $0.05 for a period of thirty-six (36) months from the closing date (the “Closing Date”) of the Offering.

There is an offering document (the “Offering Document”) related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at https://www.diagnamed.com. Prospective investors should read the Offering Document before making an investment decision.

As disclosed in the Offering Document, the Company intends to use the net proceeds from the Offering for the research, development and commercialization of its BRAIN AGE Brain Health AI Platform, and for general corporate and working capital purposes.

In connection with the Offering, the Company will pay finder’s fees and issue finder’s warrants to EMD Financial Inc., as well as any other registrant participating in the Offering, consisting of: (i) cash finder’s fees of up to 8% of the gross proceeds of the Offering; and (ii) finder’s warrants in an amount equal to up to 8% of the number of Units issued pursuant to the Offering. Each finder’s warrant is exercisable into one common share at a price of $0.05 for a period of thirty-six (36) months following the Closing Date.

The Units offered as a part of the Offering will be offered to purchasers resident in all provinces of Canada, except Québec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”). The Company may issue up to an aggregate of 16,250,000 Units for maximum aggregate gross proceeds of $650,000 under the Listed Issuer Financing Exemption. Units offered under the Listed Issuer Financing Exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws.