QScreen AI closes final tranche of private placement, raising $307K

QScreen AI Inc. (CSE: QAI) (OTC Pink: PMEDF) (FSE: 3QP) has completed the final tranche of a non-brokered private placement, raising approximately $307,662.80 in gross proceeds, according to a company statement.

The Toronto-based health technology company issued 6,153,256 units at $0.05 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to acquire one additional common share at an exercise price of $0.07 per share, exercisable for 36 months from the date of issuance, subject to previously disclosed acceleration provisions.

All securities issued under 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.

The company said net proceeds are intended to support commercialization initiatives, business development, technology advancement, strategic market expansion, and general working capital.

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