Predictmedix AI Closes $100,000 Third Tranche and Launches Smart Health AI Stations
Predictmedix AI Inc. (CSE: PMED) (OTC: PMEDF) (FRA: 3QP), a leader in AI-powered health screening solutions, is excited to announce the successful completion of the third and final tranche of its non-brokered private placement, raising a total of $100,000 CAD in gross proceeds. Of this amount, $90,000 was subscribed by company insiders, with Sheldon Kales and Dr. Rahul Kushwah each contributing $45,000. This strong insider participation underscores the confidence in Predictmedix’s growth potential and innovative approach moving forward.
Predictmedix AI Inc. has successfully raised $100,000 through a private placement of 5,000,000 units at $0.02 per unit. Each unit consists of one common share of the company and one common share purchase warrant. The warrants allow the holder to purchase an additional common share at $0.05 each for a period of 24 months. However, if the volume-weighted average trading price of Predictmedix’s shares on the Canadian Securities Exchange (CSE) exceeds $0.10 for ten consecutive trading days, starting four months and one day after the closing date, the company has the right to accelerate the expiry date of the warrants. In this case, the warrant expiration would be no less than 30 days after the notice is issued.
In addition to this successful capital raise, Predictmedix is excited to announce the commencement of production on fifteen Smart Health AI Stations. These stations are designed to be strategically deployed, with a primary focus on the U.S. market. The company plans to showcase these units to targeted customers in the U.S. to accelerate market penetration and to demonstrate the effectiveness of Predictmedix’s innovative AI-driven health management solutions. While the primary emphasis is on the U.S. market, there is also potential for units to be deployed in other regions as new opportunities emerge.
The proceeds from this private placement will be used to expand Predictmedix’s market opportunities, with a strong focus on growth within the U.S. market, particularly in the enterprise and government sectors. This move aims to further establish the company’s position as a leader in AI-powered health technology and to drive greater adoption of its solutions.
It is important to note that the participation of insiders in this private placement constitutes a “related party transaction” under Multilateral Instrument 61-101 (MI 61-101), which governs the protection of minority security holders in special transactions. However, the company is relying on an exemption from the valuation and minority shareholder approval requirements under MI 61-101. This exemption is applicable because the total value of the insiders’ participation does not exceed 25% of the company’s market capitalization.
As part of the terms of the private placement, all securities issued are subject to a statutory hold period of four months and one day from the date of issuance. This hold period ensures compliance with applicable securities regulations, providing a structured timeline for the release of shares to the public market.
Predictmedix AI Inc. is an emerging leader in the field of rapid health screening and remote patient care. The company specializes in providing AI-driven health management solutions on a global scale. Its Smart Health AI Stations utilize proprietary artificial intelligence algorithms to analyze physiological data patterns through multispectral cameras. This technology enables the detection of a range of health issues, including 19 different physiological vital parameters, impairment due to drugs or alcohol, fatigue, and various mental health conditions.
In addition to the Smart Health AI Stations, Predictmedix also offers a remote patient care platform. This platform leverages AI-powered tools to assist healthcare professionals in improving patient health outcomes. By providing more efficient, accurate, and timely assessments, Predictmedix aims to enhance patient care while reducing the burden on healthcare systems worldwide.
With its innovative technology and strategic focus on key markets like the U.S., Predictmedix is well-positioned for growth in the health tech industry. The funds raised through this private placement, along with the launch of the new Smart Health AI Stations, will help the company expand its reach and solidify its reputation as a pioneer in AI-driven health solutions. As the company continues to advance its mission of improving global health outcomes, it remains committed to pushing the boundaries of what AI can achieve in healthcare.
About Predictmedix AI Inc.
Predictmedix AI Inc. (CSE: PMED) (OTC: PMEDF) (FRA: 3QP) is an innovative company focused on providing rapid health screening and remote patient care solutions around the world. The company’s proprietary Smart Health AI Stations use advanced AI algorithms and multispectral cameras to monitor and assess a wide range of physiological data, offering predictive insights into health conditions such as fatigue, impairment, and mental health disorders. Predictmedix’s remote patient care platform empowers healthcare providers with AI-driven tools to improve patient care and health outcomes.
