|By Marketwired .||
|July 8, 2014 03:34 PM EDT||
BROSSARD, QUEBEC -- (Marketwired) -- 07/08/14 -- DIAGNOS Inc. ("DIAGNOS") (TSX VENTURE:ADK), a leader in healthcare technical services including screening, software and algorithm development, data analysis, and image processing, is pleased to announce the closing of the merger (the "Merger") of Warnex Inc. ("WARNEX") with a wholly-owned subsidiary of DIAGNOS initially announced on May 5, 2014.
DIAGNOS will issue 28,323,884 common shares (the "Shares") to the shareholders of WARNEX and 1,875,000 stock warrants (the "Diagnos Warrants") to Persistence Capital Partners. Each Diagnos Warrant will be exercisable into one common share of DIAGNOS at an exercise price of $0.10 per share until November 25, 2014.
In connection with the Merger, DIAGNOS declares today that it will grant to the shareholders of DIAGNOS of record as of July 18, 2014, one half-warrant (the "Amalgamation Warrant") for each DIAGNOS common share held. In total, 53,073,787 whole Amalgamation Warrants will be granted on the payable date of July 21, 2014. Each whole Amalgamation Warrant will be exercisable into one common share of DIAGNOS at an exercise price of $0.10 per share until July 21, 2015. The Amalgamation Warrants will contain an acceleration clause pursuant to which DIAGNOS will have the right to force the exercise of such Amalgamation Warrant in the event the weighted average trading price of the DIAGNOS shares is equal or greater than $0.15 per share during 20 consecutive trading days.
The issuance of common shares and stock warrants is subject to final approval from the TSX Venture Exchange.
All monies quoted in this press release shall be stated in lawful money of Canada.
Founded in 1998, DIAGNOS is a publicly traded Canadian corporation, with a mission to commercialize technologies combining contextual imaging and traditional data mining thereby improving decision making processes. DIAGNOS offers products, services, and solutions to clients in a variety of fields including healthcare and natural resources.
This document contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Andre Larente, President
(450) 678-8882 ext 224
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