Dr. Rahul Kushwah reports
PREDICTMEDIX AI ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Predictmedix AI Inc. has proposed a non-brokered private placement. The company intends to issue up to 18 million units at a price of five cents per unit for aggregate gross proceeds to the company of up to $900,000.
Each unit will be composed of one common share of the company 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.
Strategic direction
The capital raised is expected to strengthen Predictmedix’s core artificial intelligence technology and support continuing initiatives across its product ecosystem. The company continues to advance its Predictmedix core AI engine, which serves as the foundation for multiple growth verticals, including:
- AI-powered clinical trial applications;
- SmartHealth AI station certification initiatives;
- Business-to-consumer vital-scanning mobile platform development.
Predictmedix also intends to maintain focus on key corporate functions that support its public company operations, regulatory compliance and investor engagement.
Recent corporate activity
Following the company’s successful participation at 25th MK Investment Conference in Munich, Predictmedix engaged with a number of global investors and partners which expressed strong interest in its AI-driven approach to health care innovation.
“The investor engagement and strategic discussions in Munich validated the global relevance of our AI technology,” said Dr. Rahul Kushwah, chief operating officer of Predictmedix. “This financing provides additional flexibility as we continue to strengthen our platform, explore new partnerships and scale commercialization opportunities.”
Details of the company’s recent product validations, pilot programs and strategic partnerships can be found in earlier press releases.