QScreen AI Inc. has closed the final tranche of a non-brokered private placement, issuing 6,153,256 units at $0.05 each, generating gross proceeds of approximately $307,662.80, the company said.
Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of $0.07 per share for 36 months from the issuance date, subject to acceleration provisions previously disclosed by the company.
All securities issued in the offering are subject to a statutory hold period of four months and one day from the issuance date under applicable securities laws.
Net proceeds will be directed toward commercialization initiatives, business development activities, technology advancement, strategic market expansion, and general working capital purposes, according to the company.
QScreen AI describes itself as a health-technology company developing an artificial-intelligence engine that combines quantum-inspired computing with physiological sensing for clinical and occupational health assessments. The firm operates across correctional facilities, addiction-medicine rehabilitation settings, and industrial workforce screening in multiple jurisdictions.
Shares trade on the Canadian Securities Exchange under the ticker QAI, on the OTC Pink market under PMEDF, and on the Frankfurt Stock Exchange under 3QP. The company is based in Toronto.
