Dr. Rahul Kushwah reports
QSCREEN AI ANNOUNCES CLOSING OF FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
QScreen AI Inc. has closed the final tranche of its previously announced non-brokered private placement.
The company is pleased to announce that it has completed the final tranche of its previously announced non-brokered private placement through the issuance of 6,153,256 units at a price of five cents per unit for gross proceeds of approximately $307,662.80.
Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share of the company at an exercise price of seven cents per share for a period of 36 months from the date of issuance, subject to the acceleration provisions previously disclosed by the company.
Net proceeds from the financing are expected to be used to support commercialization initiatives, business development activities, technology advancement, strategic market expansion and general working capital purposes.
All securities issued pursuant to the financing are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws.
About QScreen AI Inc.
QScreen AI is a health technology company building a proprietary artificial intelligence engine with quantum inspired computing and advanced physiological sensing to clinical and occupational health assessments across correctional facilities, addiction medicine rehabilitation and industrial workforce screening in multiple jurisdictions.
We seek Safe Harbor.
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