Mr. Andre Larente reports

DIAGNOS ANNOUNCES CLOSING OF PRIVATE PLACEMENT AND EXERCISE OF STOCK WARRANTS

Diagnos Inc. has closed a non-brokered private placement of unsecured convertible debentures and stock warrants for gross proceeds of $865,000. The corporation also announces that it has received an aggregate amount of $247,000 from the exercise of stock warrants over the past two weeks. Diagnos wishes to thank its shareholders for their continuous support.

The debentures have a term of 24 months ending May 18, 2025, and bear interest at the annual rate of 10 per cent. At the option of the debenture holder, 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 37 cents per share. Any accrued interest on the principal, at time of conversion, will be immediately payable in cash.

An aggregate number of 865,000 warrants have been issued as part of the private placement. Each warrant entitles the holder to purchase one share at a price of 45 cents per share, for a period of 18 months ending Nov. 18, 2024.

The net proceeds from the private placement will be used 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 will pay a cash commission of $15,500 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 Sept. 19, 2023.

The private placement remains subject to receipt of all required approvals, including the approval of the TSX Venture Exchange, as well as 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 AI-based 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.

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