Le Lézard
Classified in: Health
Subject: PVP


TORONTO, June 9, 2023 /CNW/ - NetraMark Holdings Inc. (the "Company" or "NetraMark") (CSE: AIAI) (Frankfurt: 8TV) (OTC: AINMF), is pleased to announce that further to its press release of June 1, 2023 and June 6, 2023, it has closed the first tranche of its previously announced non-brokered private placement for gross proceeds of $500,000 (the "First Tranche"). Netramark issued 1,351,351 units (each, a "Unit") under the First Tranche at a price of $0.37 per Unit, with each Unit consisting of one common share (each, a "Unit Share") in the capital of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles its holder to acquire one common share at a price of $0.50 for a period of three years from the closing date.

The securities issued by the Company in connection with the First Tranche will be subject to a 4-month and a day "hold period" expiring October 10, 2023, as prescribed by applicable securities laws.

As a result of closing the First Tranche, there are 52,132,863 Common Shares of NetraMark issued and outstanding.

Netramark expects to close the second tranche of the private placement on June 14, 2023. NetraMark intends to use the net proceeds from the private placement towards working capital and general corporate purposes.

About NetraMark

NetraMark is a company focused on being a leader in the development of Artificial Intelligence (AI) / Machine Learning (ML) solutions targeted at the Pharmaceutical industry. Its product offering uses a novel topology-based algorithm that has the ability to parse patient data sets into subsets of people that are strongly related according to several variables simultaneously. This allows NetraMark to use a variety of ML methods, depending on the character and size of the data, to transform the data into powerfully intelligent data that activates traditional AI / ML methods. The result is that NetraMark can work with much smaller datasets and accurately segment diseases into different types, as well as accurately classify patients for sensitivity to drugs and / or efficacy of treatment.

For further details on the Company please see the Company's publicly available documents filed on the System for Electronic Document Analysis and Retrieval (SEDAR).

Forward-Looking Statements

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation including statements regarding the second tranche of the private placement and use of proceeds which is based upon NetraMark's current internal expectations, estimates, projections, assumptions and beliefs, and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance, or other statements that are not statements of fact. The forward-looking statements are expectations only and are subject to known and unknown risks, uncertainties and other important factors that could cause actual results of the Company or industry results to differ materially from future results, performance or achievements. Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, NetraMark does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. New factors emerge from time to time, and it is not possible for NetraMark to predict all such factors.

When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements as set out in the materials we file with applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com including our Management's Discussion and Analysis for the year ended September 30, 2022. These risk factors and other factors could cause actual events or results to differ materially from those described in any forward-looking information.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

SOURCE NetraMark Holdings Inc.

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