00:39:38 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Imagin Medical Inc
Symbol IME
Shares Issued 39,772,634
Close 2017-03-03 C$ 0.11
Market Cap C$ 4,374,990
Recent Sedar Documents

Imagin Medical closes $118,000 private placement

2017-03-03 16:18 ET - News Release

Mr. Jim Hutchens reports

IMAGIN MEDICAL CLOSES PRIVATE PLACEMENT OF CONVERTIBLE NOTES

Imagin Medical Inc. has closed the private placement announced on Feb. 24, 2017, through the issuance of $118,000 aggregate principal amount unsecured convertible notes at a price of $1,000 of principal amount per note.

The notes provide the following terms:

  1. Each note shall be for a term of 12 months from the date of closing (subject to the prepayment and conversion terms hereinafter set forth).
  2. The notes will bear interest from the date of closing at the rate of 10 per cent per annum, calculated annually and payable on maturity.
  3. The subscribers may at any time following the date of closing elect to convert any portion of the note, plus accrued interest to the date of conversion, into units of the issuer at the conversion price of nine cents per unit; each unit consisting of one share and one warrant exercisable for 12 months at 12 cents per share.
  4. At maturity, all unpaid principal and interest under the notes shall be repaid in full, at the election of the issuer, either:
    1. In cash;
    2. In units priced at nine cents per unit;
    3. Any combination thereof.

The company's president and two directors (the insiders) invested a total of $61,000 in this financing.

No finders' fees were paid in this financing. The company will be making applicable filings with the Canadian Securities Exchange.

Proceeds from the placement will be used for general working capital purposes, including advancing the development of imaging solutions for the early detection of cancer through the use of endoscopes.

About Imagin Medical Inc.

Imagin Medical is developing imaging solutions for the early detection of cancer through the use of endoscopes.

We seek Safe Harbor.

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