DIAGNOS Announces Exercise of Stock Warrants and Provides a Cash Update

DIAGNOS Inc.
·2 min read

BROSSARD, Quebec, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Diagnos Inc. (“DIAGNOS” or “the Corporation”) (TSX Venture: ADK) (OTCQB: DGNOF), a leader in early detection of critical health issues through the use of its FLAIRE platform based on Artificial Intelligence (AI), announces the exercise of 5,076,922 stock warrants within the past five months. The cash position of the Corporation as of today is $1,433,000.

In the coming weeks, the Corporation expects to submit a first claim for disbursement under a financing agreement in the form of an interest-free loan of up to $2,000,000 from the government of Québec to support global commercialization. The financing agreement was initially announced on September 8th, 2020.

The Corporation is also announcing a grant of 1,200,000 stock options to one of its directors. Stock options vest at 50% per year, commencing with the first anniversary of the grant. The exercise price of these stock options has been established at $0.56 per share. The expiry date to which these stock options can be exercised has been fixed to February 24, 2026.

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. 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. CARA complies with local regulations, is FDA cleared for commercialization in the United States of America, is Health Canada licensed for commercialization in Canada and is CE marking compliant in Europe.

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.


CONTACT: For further information, please contact: Mr. André Larente, President DIAGNOS Inc. Tel: 450-678-8882 ext. 224 alarente@diagnos.ca