Perimeter Medical Imaging AI raises C$3.6 million in private placement

Perimeter Medical Imaging AI, Inc. (TSX-V: PINK) (OTCQX: PYNKF) completed a non-brokered private placement raising C$3,556,315 in gross proceeds. The medical technology company issued 19,757,306 units at C$0.18 per unit.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional common shares at C$0.35 each for 60 months.

Company insiders led the financing round. CEO Adrian Mendes purchased 11,656,642 units for approximately $2,098,196, bringing his ownership to 11.7% of outstanding shares on an undiluted basis. Another insider, Mr. Schiralli, acquired 1,111,111 units for approximately $200,000.

Following the placement, Mendes owns 15,311,726 common shares, 14,989,976 warrants and 1,876,740 options, representing 17.4% on a partially diluted basis. Schiralli now holds 12,974,654 common shares and 1,111,111 warrants, representing 9.9% of outstanding shares.

The company plans to use proceeds for commercialization of its technology, product development and general corporate purposes. Perimeter paid C$20,673 in finder's fees related to the offering.

The securities are subject to a four-month statutory hold period under applicable securities legislation. The offering constituted a related party transaction under TSX Venture Exchange policies due to insider participation.

Perimeter develops medical imaging technology for cancer surgery. The company's S-Series OCT system has FDA clearance and provides real-time tissue visualization. Its B-Series OCT with artificial intelligence is under FDA review, with a regulatory decision expected in the first half of 2026.

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