DiagnaMed Announces Stock Option Grants and Shares for Debt Settlement

Rhea-AI Summary

DiagnaMed Holdings Corp (CSE: DMED) (OTCQB: DGNMF) has announced two key corporate actions: First, the company has granted 4.5 million stock options to directors, officers, and consultants at $0.05 per share, with a five-year expiration and quarterly vesting schedule over one year. Second, the board has approved a shares-for-debt settlement of $67,800 through the issuance of 1,356,000 common shares at $0.05 per share to an arm's length creditor.

Positive

• None.

Negative

• The company is diluting shareholders through new stock option grants of 4.5M shares
• Additional dilution through shares-for-debt settlement of 1.36M shares
• The company has outstanding debt that needs to be settled through share issuance, indicating potential cash flow issues

TORONTO, Nov. 13, 2024 (GLOBE NEWSWIRE) -- DiagnaMed Holdings Corp. (“DiagnaMed” or the “Company”) (CSE: DMED) (OTCQB: DGNMF), a life sciences company focused on molecular hydrogen and AI diagnostics, announces that it has granted an aggregate of 4,500,000 stock options ("Options") to its directors, officers and consultants at a price of $0.05 per common share, expiring five years from the date of grant and vest one-fourth increments with the first batch being released on the three-month anniversary and the remaining three quarters vesting equally on the six-month, nine-month, and twelve-month anniversary of the date of grant. Each Option is exercisable to purchase one Common Share.

The Company also announces that its board of directors has approved the settlement of an aggregate of $67,800 of amount owing to an arm’s length creditor through the issuance of 1,356,000 common shares in the capital of the Company at $0.05 price per share to be determined at time of settlement.

About DiagnaMed

DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) is a life sciences company focused on molecular hydrogen and AI diagnostics for brain health. DiagnaMed is exploring the medical use of hydrogen for brain health conditions, such as neurological and mental health disorders. In addition, the Company is commercializing BRAIN AGE® Brain Health AI Platform, a world-first consumer brain health and wellness AI solution that estimates brain age and provides a brain health score. Visit DiagnaMed.com.

For more information, please contact:

Fabio Chianelli
Chairman and CEO
DiagnaMed Holdings Corp.
Tel: 416-800-2684
Email: info@diagnamed.com
Website: www.diagnamed.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “will”, “may”, “expect”, “could”, “can”, “estimate”, “anticipate”, “intend”, “believe”, “projected”, “aims”, and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Company’s management’s discussion and analysis for the three and nine months ended June 30, 2024 (“MD&A”), dated August 22, 2024, which is available on the Company's profile at www.sedarplus.ca. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

FAQ

How many stock options did DiagnaMed (DGNMF) grant in November 2023?

DiagnaMed granted 4,500,000 stock options to its directors, officers and consultants at a price of $0.05 per common share.

What is the vesting schedule for DiagnaMed's (DGNMF) November 2023 stock options?

The options vest in four equal increments: 25% after three months, and the remaining portions at six, nine, and twelve months from the grant date.

How much debt is DiagnaMed (DGNMF) settling through share issuance?

DiagnaMed is settling $67,800 of debt through the issuance of 1,356,000 common shares at $0.05 per share.