Mr. Andre Larente reports

DIAGNOS ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Diagnos Inc. has closed a non-brokered private placement of five units issued at a price of $50,000 per unit for gross proceeds of $250,000. For the period of Nov. 25, 2022, to this date, Diagnos has raised an aggregate amount of $1.1-million from the issuance of units.

Each unit consists of:

1. One unsecured convertible debenture; and
2. 50,000 stock warrants.

Each debenture has a term of 36 months ending Jan. 13, 2026, and bears interest at the annual rate of 10 per cent. At the option of the holder of the debenture, the principal amount of the debenture may be converted, at any time during the term, into common shares of the corporation at a price of 22 cents per share. Any accrued interest on the principal, at time of conversion, will be immediately payable in cash.

The company issued 250,000 warrants as part of the private placement. Each warrant entitles the holder to purchase one share at a price of 26 cents per share, for a period of 18 months ending July 13, 2024. If, at any time following May 14, 2023, the daily volume-weighted average trading price of the shares is, or exceeds, 40 cents for 15 consecutive trading days, the corporation shall have the option to accelerate the expiry of the warrants. If the corporation chooses to exercise the acceleration right, the new expiry date of the warrants will be the 30th day following the notice of such exercise.

The net proceeds from the private placement will be used mainly to finance product development, commercialization of artificial-intelligence-based screening services, as well as general and administrative operations.

In connection with the closing of the private placement, the corporation paid a cash commission of $12,500 to one qualified firm acting at arm's length, Optimista Consulting Services Inc.

All securities issued as part of the private placement are subject to a statutory hold period ending May 14, 2023.

The private placement remains subject to receipt of all required approvals, including the approval of the TSX Venture Exchange, as well as full receipt of funds and execution of formal documentation.

About Diagnos Inc.

Diagnos is a publicly traded Canadian corporation dedicated to early detection of critical health problems based on its Flaire artificial intelligence (AI) platform. Flaire allows for quick modifying and developing of applications such as CARA (computer-assisted retina analysis). CARA's image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images. CARA is a cost-effective tool for real-time screening of large volumes of patients.

We seek Safe Harbor.