Mr. Swapan Kakumanu reports
NETRAMARK ANNOUNCES PRIVATE PLACEMENT FINANCING
Netramark Holdings Inc. has arranged a non-brokered private placement of up to 3.5 million units of the company at a price of $1 per unit for aggregate gross proceeds of up to $3.5-million.
Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire, subject to adjustments in certain events, one additional common share in the capital of the company at an exercise price of $1.35 per share for a period of two years from the closing date of the offering.
The offering will be completed pursuant to certain exemptions from the prospectus requirements under applicable Canadian securities laws. The unit shares and warrants comprising the units issued pursuant to the offering will be subject to a statutory four-month-and-one-day hold period from the date of issue in accordance with applicable Canadian securities laws.
The company intends to use the net proceeds from the offering for general working capital and corporate purposes, including continued advancement and commercialization of its proprietary NetraAI platform and support of continuing and prospective biopharmaceutical engagements.
About Netramark Holdings Inc.
Netramark is a company focused on being a leader in the development of generative artificial intelligence/machine learning solutions targeted at the pharmaceutical industry. Its product offering uses a novel topology-based algorithm that has the ability to parse patient data sets into subsets of people who are strongly related according to several variables simultaneously. This allows Netramark to use a variety of ML methods, depending on the character and size of the data, to transform the data into powerfully intelligent data that activates traditional AI/ML methods. The result is that Netramark can work with much smaller data sets and accurately segment diseases into different types, as well as accurately classify patients for sensitivity to drugs and/or efficacy of treatment.
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