Predictmedix AI Inc. (CSE:PMED, OTCQB:PMEDF), a provider of AI-powered health screening technology, announced a proposed non-brokered private placement to raise up to C$1 million.
The net proceeds from the offering will be used for general working capital and to expand market opportunities in the United States for its AI-driven health management solutions across enterprise and government sectors, the company said.
"We are pleased to announce that the company has begun receiving commitments towards the placement," said Rahul Kushwah, COO of Predictmedix.
The company plans to issue up to 50 million units at C$0.02 per unit, with each unit consisting of one common share and one common share purchase warrant.
Each warrant will allow the holder to acquire an additional common share at C$0.05 for a period of 24 months following the offering’s close.