Predictmedix Inc said it has closed the final tranche of its non-brokered private placement for gross proceeds of $80,000 which will be used for general operations, including business developments and technology upgrades.
Pursuant to the final tranche, the company issued 1.6 million units at a price of $0.05 per unit.
READ: Predictmedix closes first tranche of non-brokered private placement for gross proceeds of $415,000
Each unit consists of one share of the company and one-half of a share purchase warrant. Each warrant entitles the holder to purchase an additional common share for a period of two years from closing at an exercise price of $0.10 per share.
Business and technology developments
Predictmedix said two of its publications have been successfully peer-reviewed and accepted in scientific journals, with four additional publications currently under peer review in scientific journals.
In addition to the company’s recently peer-reviewed publications for detecting impairment from alcohol and detecting body temperature, Predictmedix said these four publications continued to validate its technology to identify symptoms of infectious diseases, fatigue, key vitals, and the overall ability to screen for various parameters as part of Safe Entry's Fit for Duty screening.
The company said it has made significant updates and upgrades to its AI algorithms from capturing data from subjects across the US, Canada, Mexico, and India, making its Safe Entry Stations more accurate, reliable, and faster.
Predictmedix has also completed the distribution of demonstration units with comprehensive Fit for Duty screening via its distributor SBL Testing Technologies.
Further, the company said it is in the process of appointing a new independent director to replace Ajit Kumar who cannot continue in this position due to personal reasons.
The full business and technology update can be found here.
Predictmedix is an emerging provider of rapid health screening and remote patient care solutions globally. The company’s Safe Entry Stations use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, fatigue, or various mental illnesses.
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