Vancouver, B.C. and Boston, MA, September 26, 2017 – Imagin Medical, Inc. (CSE: IME) (OTC PINK: IMEXF) (Frankfurt/Stuttgart Stock Exchanges: DPD2) (the “Company”) announced today the offering of a non-brokered private placement to raise $600,000 through the distribution of units (“Units”) at $0.05 per Unit.
Each Unit will consist of one common share and one common share purchase warrant, each warrant entitling the holder to acquire one additional common share at $0.10 for 12 months.
Finder’s fees may be paid in accordance with Canadian Securities Exchange policies. Closing of the placement will be subject to making applicable filings with the CSE.
Proceeds from the placement will be used for general working capital purposes, including advancing the development of imaging solutions for the early detection of cancer.
Pursuant to the Company’s Stock Option Plan, an aggregate of 1.6M shares have been granted to consultants as incentive stock options at an exercise price of $0.06 per share. The options are exercisable for a period of five years, ending on September 25, 2022.
About Imagin Medical
Imagin Medical is developing imaging solutions for minimally invasive surgical procedures where endoscopes are used. The Company believes it will radically improve the way physicians detect cancer and view the surgical field. Imagin’s initial target market is bladder cancer, a major cancer worldwide, the sixth most prevalent in the U.S., and the most costly cancer to treat due to a greater than 50% recurrence rate. The ultrasensitive imaging technology is based upon improved optical designs and advanced light sensors. Learn more at www.imagindev.wpengine.com
For further information, contact:
Jim Hutchens, President & CEO
Telephone: (617) 571-6006
Email: [email protected]
Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.