Dr. Rahul Kushwah reports
PREDICTMEDIX AI ANNOUNCES CLOSING OF FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Predictmedix AI Inc. has successfully closed the final tranche of its non-brokered private placement.
In this final tranche, the company issued 3.05 million units at a price of five cents per unit, for gross proceeds of $152,500, bringing the total capital raised across all tranches of the offering to $612,650.
The company issued 3.05 million units at a price of five cents per unit, raising $152,500 in this tranche. Each unit consists of one common share of Predictmedix and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one-half common share of the company at a price of 15 cents for a period of 36 months following the closing date of the offering. If, following four months and a day after the closing date, the volume weighted average price of the common shares on the Canadian Securities Exchange is equal to or greater than 30 cents for any 10 consecutive trading days, the corporation may, upon providing written notice to the holders of warrants, accelerate the expiry date of the warrants to the date that is 30 days following the date of such written notice.
"We are pleased to complete this financing with a select group of strategic participants who align closely with our long-term vision," said Dr. Rahul Kushwah, chief operating officer of Predictmedix AI. "In order to maintain share structure integrity and avoid unnecessary dilution for our long-term investors, we opted to accept a reduced amount and take a disciplined, value-focused approach to the raise. Our priority was to welcome investors who bring meaningful strategic contributions through their expertise and networks, rather than simply maximizing capital. With this measured financing now concluded, we are moving ahead with clarity and strong momentum as we continue advancing our initiatives across key markets."
All securities issued in connection with the private placement are subject to a statutory hold period of four months and one day from the date of issuance.
Details of the company's recent product validations, pilot programs and strategic partnerships can be found in earlier news releases available on the company's website.
About Predictmedix AI Inc.
Predictmedix AI is an emerging provider of rapid health screening and remote patient care solutions globally. The company's Smarthealth AI stations -- powered by a proprietary artificial intelligence (AI) -- use multispectral cameras to analyze physiological data patterns and predict a variety of health issues, including 19 physiological vital parameters, impairment by drugs or alcohol, fatigue or various mental illnesses. Predictmedix AI's proprietary remote patient care platform empowers medical professionals with a suite of AI-powered tools to improve patient health outcomes.
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