CAMPBELLVILLE, Canada, April 9 /CNW/ - NIR Diagnostics Inc. (the
"Company") (TSX Venture: NID), an innovator in the development of handheld
healthcare diagnostic devices, today announced that it has entered into a
binding definitive subscription agreement (the "Agreement"). Under the
Agreement, the Company intends to complete a non-brokered private placement
financing (the "Private Placement") for the issuance of $550,000 principal
amount of secured convertible redeemable debenture ("Debenture") and 5,000,000
common share purchase warrants ("Warrants"). The net proceeds from the Private
Placement will be used to fund continuing research, working capital and
general corporate requirements. The Private Placement is subject to approval
by the TSX Venture Exchange ("TSX-V"), as well as satisfaction of certain
customary conditions.
