New AI Rollouts Signal Shift From Hype to Healthcare Reality
According to private equity investors, this year could be even bigger than 2024 for health technology companies. Recent private raises include $101 million for Tennr, $45 million for Ellipsis Health and $28 million for Autonomize AI. In the public markets, there are several opportunities that involve actual rollouts of AI healthcare tech in practice.
Avant Technologies, Inc. (OTCQB: AVAI) just signaled its biggest move yet: the creation of a new company dedicated to developing a potential treatment for diabetes. According to their latest update, Avant is set to launch either a joint venture, partnership, or an acquisition to accomplish this intention as it expands its interests in diabetes, which impacts over 500 million people globally.
Avant's flagship Vision AI tech is designed to detect the early markers of diseases like diabetic retinopathy, which is the leading cause of blindness among working age adults. Vision AI is a cutting-edge, AI-driven platform that can detect diabetic retinopathy and other retinal diseases with high accuracy and speed using retinal scans, as well as diseases unrelated to the retina like cardiovascular disease, prediabetes and type 2 diabetes, fatty liver diseases, and chronic kidney disease.
"It is the work we're doing with Ainnova to screen diabetes patients to identify the early signs of diabetic retinopathy that is driving Avant to contribute even more to the fast-growing disease—a potential treatment," said Chris Winter, CEO of Avant Technologies. "We are exploring several promising opportunities to get involved in the development of a treatment for diabetes globally, and if successful, we want to be ready to hit the ground running with the formation of a company to house that opportunity."
Over 30% of those living with diabetes will develop diabetic retinopathy, a disease that can be prevented with an accurate diagnosis. More recently, Avant and joint-venture partner Ainnova Tech have begun offering free Vision AI scans inside Grupo Dökka's Fischel and La Bomba pharmacy chains.
"As we begin similar initiatives in Mexico, our goal is to close the patient care loop with timely treatment, connecting every step of the journey," said Vinicio Vargas, CEO of Ainnova Tech and board member of Ai-nova Acquisition Corp. "We are integrating pharma, retail, ophthalmologists, and our technology into a unified experience, all driven by one incentive, the well-being of the diabetic patient."
Back in late 2024, Avant entered into the joint venture with Ainnova Tech to form Ai-nova Acquisition Corp (AAC) to advance and commercialize Ainnova's technology portfolio, including the Vision AI platform, and its versatile retinal cameras. Avant now expects that a new relationship will allow it to expand its diabetes program to both identify the early markers of the disease and to treat diabetes.
Recently, Avant signed a non-binding letter of intent to acquire 100% of Ainnova Tech —bringing leadership, data, and intellectual property together ahead of a scheduled FDA pre-submission meeting in July. Folding the joint venture into a single public entity would remove the current holding-company structure, streamlining everything from regulatory filings to revenue recognition. Management sees the unified cap table as a potential draw for both investors and strategic partners.
While the legal teams work through due diligence, engineers are finalizing a low-cost, automated retinal camera built to work seamlessly with the Vision AI platform. Legacy fundus cameras can run into the tens of thousands and typically require skilled operators. Avant's prototype is fully automated, cloud-connected, and designed for a fraction of the cost. If performance holds up to internal testing, the system could enable large-scale diabetic screenings in clinics and low-resource settings—without the need for additional specialist staff.
Vision AI is also expanding beyond diabetic eye disease. A patented dementia-risk module —pairing a five-minute blood test with AI pattern recognition—is now in validation, while cardiovascular-risk analytics are advancing through pilot studies across Latin America. Because every new use case plugs into the same software backbone, Avant looks more like a scalable platform than a single-product company.
Eli Lilly and Company (NYSE: LLY) has welcomed RyboDyn into its Lilly Gateway Labs program in San Diego as part of its Catalyze360™ model for accelerating biotech innovation. The move supports development of RyboDyn's AI-powered immunotherapies targeting the "dark proteome," a novel set of cancer-specific markers absent in healthy tissues.
"We're thrilled to join the LGL community and collaborate with peers who share our urgency to translate high-impact science," said Imad Ajjawi, PhD, MBA, CEO and Co-founder of RyboDyn. " Lilly's support comes at a pivotal moment as we advance our first wave of programs toward therapeutic development."
Backed by early results from Moffitt Cancer Center, the company is now advancing these targets toward first-in-human studies.
Palantir Technologies Inc. (NASDAQ: PLTR) has entered a strategic partnership with TeleTracking to improve hospital operations using AI-driven insights. The collaboration integrates Palantir's Foundry and AIP platforms with TeleTracking's Operations IQ to optimize staffing, capacity, and patient flow across healthcare systems.
"This partnership with TeleTracking represents the AI revolution in healthcare we are in the midst of-where we continue to move closer to a world where all hospitals and health systems are embracing, implementing and operating with an AI-powered approach, helping to streamline operations allowing for increased focus on providing the best level of care," said Alex Karp, CEO at Palantir.
The joint solution delivers near real-time situational awareness to reduce caregiver burden and improve outcomes.
Koninklijke Philips N.V. (NYSE: PHG) has published new APAC data from its Future Health Index 2025, spotlighting the region's critical care delays and strained health systems. Two-thirds of patients are facing average wait times of 47 days for specialist access, with 33% reporting worsened health outcomes as a result. Meanwhile, 89% of healthcare professionals surveyed believe AI can save lives through faster interventions, while 76% report losing time due to incomplete patient data.
"The need for AI has never been greater. Our survey shows that patients are anxiously waiting more than a month for specialist care, while some healthcare professionals are losing about four working weeks of clinical time a year due to incomplete patient data," said Jasper Westerink, Senior Vice President and Representative Director of Philips Japan and Acting Managing Director of Philips APAC. "There is a clear role for AI to help clinicians act faster, make better decisions, and anticipate patient needs earlier as we strive to deliver better care for more people."
These findings underscore a growing consensus that AI adoption is no longer optional but essential for long-term care delivery improvements across Asia Pacific.
Waystar Holding Corp. (NASDAQ: WAY) has published new research showing that artificial intelligence is now a mission-critical component of revenue cycle management for healthcare providers.
"This research reinforces what we're seeing across the industry. AI is no longer theoretical and is fundamentally reshaping how providers operate," said Matt Hawkins, CEO of Waystar. "As healthcare organizations navigate growing complexity, the study shows they're relying on proven and trusted RCM software providers to deploy AI."
According to the Forrester Consulting study, AI is delivering 13–37% gains in areas like claim accuracy, payment speed, and workforce efficiency. With 82% of healthcare leaders calling AI essential to their operations, the report marks a clear inflection point in healthcare's digital transformation.
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased in the open market. MIQ reserves the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
an hour ago
- Cision Canada
World-Leading Breakthrough! Risen Energy's HJT Modules Hit Average 740Wp Mass Production with Record 26.61% Cell Efficiency
NINGBO, China, July 2, 2025 /CNW/ -- A milestone in global heterojunction (HJT) photovoltaic technology! Risen Energy Co., Ltd. (Stock Code: 300118) today announced its self-developed Hyper-ion HJT modules have achieved a groundbreaking 740Wp average mass-production power, setting a new industry efficiency benchmark. With certified cell conversion efficiency of 26.61%, this innovation demonstrates immediate R&D-to-production integration. This breakthrough cements Risen Energy's leadership in high-efficiency PV industrialization. Core Innovations: Patent-Protected Tech & Cost-Performance Revolution Leveraging National Key Research and Developement Program, Risen Energy's proprietary technologies deliver structural optimization and drastic cost reduction while maintaining peak efficiency: Metallization Upgrade: Silver consumption slashed to 5mg/W (↓37.5% vs. TOPCon), driving non-silicon cost reduction via stencil printing. Low CTM Loss Encapsulation: Module CTM (Cell-To-Module) loss minimized to 1.8% with cell breakage-rates under 0.03%, enabling high-yield manufacturing. Dual Advantages: High Energy Yield & Ultra-Low Carbon The 740W Hyper-ion module's -0.24%/°C temperature coefficient and 90% bifaciality delivered 4.09% higher power output than TOPCon at SGS Saudi Arabia's test site. Peak monthly gains hit 6.04% in August, proving its "higher heat, higher yield" reliability. Per 100MW project, this translates to: +3 million kWh annual power generation 2,880 tons CO₂ reduction Carbon footprint as low as 376.5kg eq CO₂/kWc Global Market Momentum As the prime solution for utility-scale, commercial/industrial, and high-temperature projects, Risen Hyper-ion Pro series HJT modules dominate: 9GW+ 2025 HJT-specific tenders in China (led by state-owned giants like China Green Dev./CGN etc.) Expansion to 50+ countries across Middle East/Southeast Asia 6%+ verified energy gain in Saudi/UAE high-irradiation regions, slashing LCOE. Vision from Leadership Dr. Yang Pochuan, Dean of Risen Global PV Research Institute: "We're targeting >27% cell efficiency and 790W+ monocrystalline modules within 3 years. Our perovskite tandem tech will enable 850Wp+ mass production by 2028, advancing the world's net-zero transition with 'China Solutions'. SOURCE Risen Energy Co., Ltd
Cision Canada
an hour ago
- Cision Canada
Minsud Announces Closing of Over-Subscribed Private Placement
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ TSX-V: MSR TORONTO, July 2, 2025 /CNW/ - Minsud Resources Corp. (TSXV: MSR) (" Minsud" or the " Company") is pleased to announce that it has closed its previously announced (see news release dated June 4, 2025) non-brokered private placement offering of common shares of the Company (" Common Shares") for total gross proceeds of $848,706, issuing 1,146,900 Common Shares at a price of $0.74 per Common Share (the " Private Placement"). The net proceeds will be used to continue exploring the Chita Valley Project as well as working capital and corporate overhead requirements. No commission or finder's fee was paid in connection with the Private Placement. The Common Shares will be subject to a hold period of four months and a day from their date of issuance. The Private Placement remains subject to final approval from the TSX Venture Exchange (" TSXV"). Under the Private Placement, insiders of the Company subscribed for 566,000 Common Shares. Each subscription under the Private Placement by an insider is considered to be a "related party transaction" of the Company for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101") and Section 5.9 – Protection of Minority Securityholders in Special Transactions of the Corporate Finance Manual of the TSXV. In completing the Private Placement, the Company is relying upon exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Sections 5.5(a) and (b) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization and no securities of the Company are listed or quoted for trading on prescribed stock exchanges or stock markets. Additionally, the Company is exempt from minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on, inter alia, Section 5.7(a) as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the expected closing date of the Private Placement as the details of the insider's participation in the Private Placement had not been finalized at the time. The securities being offered have not been, nor will they be, registered under the United States Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. Early Warning Reporting Compañía de Tierras Sud Argentino S.A. Compañía de Tierras Sud Argentino S.A. (" CTSA", address: 684 Esmeralda Street, 14th floor, Buenos Aires, Republic of Argentina), an insider and control person of the Company, acquired 351,000 Common Shares under the Private Placement. The 351,000 Common Shares acquired by CTSA represent 0.21% of the 166,095,415 Common Shares following the closing of the Private Placement. Prior to the Private Placement, CTSA held 44,773,743 Common Shares, representing 27.14% of the outstanding Common Shares, based upon 164,948,515 Common Shares being outstanding immediately prior to the closing of the Private Placement. CTSA now owns 45,124,743 Common Shares, representing 27.17% of the outstanding Common Shares on an undiluted basis, based upon 166,095,415 being outstanding following the closing of the Private Placement. CTSA does not own any convertible securities of the Company. CTSA acquired and intends to hold the securities for investment purposes. CTSA, depending on market and other conditions, may increase its beneficial ownership, control or direction over the Common Shares or other securities of Minsud through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise, in accordance with applicable securities regulations. Depending on market or other conditions, CTSA may sell all or a portion of the Common Shares. An early warning report with additional information with respect to CTSA will be filed on SEDAR+ at copies of which may be obtained by contacting the persons listed below. Carlos Adamo Mr. Carlos Adamo (address: Carlos Pellegrini 1427, 3rd floor, Ciudad de Buenos Aires, Republic of Argentina) an insider of the Company, acquired 165,000 Common Shares under the Private Placement. The 165,000 Common Shares acquired by Mr. Adamo represent 0.09% of the 166,095,415 Common Shares outstanding following the closing of the Private Placement. Prior to the Private Placement, Mr. Adamo held 18,993,712 Common Shares, and stock options (the " Options") exercisable to acquire 1,575,000 Common Shares, representing 11.51% of the outstanding Common Shares on an undiluted basis and 12.35% on a partially diluted basis (assuming the exercise of the Options), based upon 164,948,515 Common Shares being outstanding immediately prior to the closing of the Private Placement. Mr. Adamo now owns 19,158,712 Common Shares, and stock options (the " Options") exercisable to acquire 1,575,000 Common Shares, representing 11.53% of the outstanding Common Shares on an undiluted basis and 12.37% on a partially diluted basis (assuming the exercise of the Options), based upon 166,095,415 Common Shares being outstanding following the closing of the Private Placement. Mr. Adamo acquired and intends to hold the securities for investment purposes. Mr. Adamo depending on market and other conditions, may increase its beneficial ownership, control or direction over the Common Shares or other securities of Minsud through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise, in accordance with applicable securities regulations. Depending on market or other conditions, Mr. Adamo may sell all or a portion of the Common Shares. An early warning report with additional information with respect to Mr. Adamo will be filed on SEDAR+ at copies of which may be obtained by contacting the persons listed below. About Minsud Resources Corp. Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, strategic plans, spending commitments, future operations, future work programs, and statements regarding the Private Placement, including the use of proceeds raised thereunder and TSXV approval. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Company may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; fluctuations in commodity prices and the factors identified in the Company's continuous disclosure documents filed on SEDAR+. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cision Canada
3 hours ago
- Cision Canada
CONVERSION OF DEBENTURE INTEREST INTO EQUITY AND AMENDMENT OF DEBENTURES
MONTRÉAL, July 2, 2025 /CNW/ - Geekco Technologies Corporation (the " Corporation" or " Geekco") (TSXV: GKO) is pleased to announce that, in accordance with the terms and conditions of the convertible debenture units issued on March 1, 2021 (the " First Tranche Debentures Units 2021"), April 14, 2021 (the " Second Tranche Debenture Units 2021", and collectively with the First Tranche Debenture Units 2021, the " Debentures Units 2021") and March 1, 2023 (the " Debentures Units 2023"), Geekco has agreed, subject to the approval of the TSX Venture Exchange (the " TSXV"), to issue (i) 1,724,133 class A shares (the " Common Shares") as settlement of payments of interest at a rate of 10% per year on an aggregate principal amount of $1,000,000 of the First Tranche Debentures Units 2021 and equal to $100,000; (ii) 500,000 Common Shares as settlement of payments of interest at a rate of 10% per year on an aggregate principal amount of $250,000 of the Second Tranche Debentures Units 2021 and equal to $25,000; and (iii) 1,293,103 Common Shares as settlement of payments of interest at a rate of 15% per year on an aggregate principal amount of $500,000 of the Debentures Units 2023 and equal to $75,000. The Common Shares will be issued at the price of $0.058 per Common Share with respect to the First Tranche Debentures Units 2021 and Debenture Units 2023, which is equal to the volume-weighted average trading price (" VWAP") of the Common Shares on the TSXV for the last 20 days prior to the respective applicable payment date. The Common Shares will be issued at the price of $0.05 per Common Share with respect to the Second Tranche Debentures Units 2021, which equals the closing price on the applicable payment date, as it exceeded the 20-day VWAP. The Common Shares will also be subject to a statutory four-month hold period beginning on the date of issuance. Extension and Modifications to Outstanding Convertible Debentures Geekco also announces modifications to the outstanding First Tranche Debentures Units 2021, Second Tranche Debentures Units 2021 and Debenture Units 2023, representing an aggregate principal amount of $1,720,000. The modifications consist of an extension of their respective maturity dates by 24 months from the current maturity date of March 1, 2025, with respect to the First Tranche Debentures Units 2021 and the Debentures Units 2023 (together representing an aggregate principal amount of $1,470,000), and April 14, 2025, for the Second Tranche Debenture Units (representing an aggregate principal amount of $250,000) (the " Current Maturity Date"). During this extended period, (i) the minimum conversion price of the principal amount in Common Shares by the Corporation will be of $0.15 during the first 12 months from the Current Maturity Date and of $0.30 thereafter; (ii) the VWAP of the Common Shares for the last 20 days on the TSXV which triggers the option by the Corporation to accelerate the conversion is of $0.225 during the first 12 months from the Current Maturity Date and of $0.30 thereafter; and (iii) the conversion rate of the principal amount in Common Shares by the debentures units holders will be of 6,666 Common Shares per $1,000 Debenture if converted during the first 12-month period from the issue date and of 3,333 Common Shares thereafter. All other terms of the debenture units remain unchanged, including those of the attached warrants, which have not been extended and have thus expired at maturity, as well as the respective interest rates of 10% for the 2021 Debenture Units and 15% for the 2023 Debenture Units, except that interests for the latter with respect to its third anniversary year and going forward are now payable at the maturity date (uncompounded and not capitalized). Each Warrant which were attached to the Debenture Units 2021 and the Debenture Units 2023 (now expired) entitled their holders to acquire one Common Share for a period of 24 months at an exercise price equal to (i) $0.75 during the first year ($0.50 for the Debenture Units 2023) and (ii) $1.00 during the second year ($0.75 for the Debenture Units 2023), provided that if the volume weighted trading price of the Common Shares for the last 20 days on the TSXV is equal to, or greater than the applicable exercise price plus 20% per Common Share, then the Corporation may force the holder to exercise the Warrants into Common Shares within 30 days, after which the Warrants shall automatically expire. These modifications will take effect as of the respective Current Maturity Date of each set of convertible debentures, subject to the approval of the TSXV. For more details on the Debenture Units 2021 and Debenture Units 2023, please refer to the press releases issued by the Corporation on March 1 and April 14, 2021, as well as March 2 and April 13, 2023. The Debenture Units 2023 indirectly held by Henri Harland, a holder of more than 10% of the outstanding securities of the Corporation, through Gestion Harland Inc., are now convertible into up to a potential of 3,333,333 Common Shares. In addition, 1,293,103 Common Shares were issued to Gestion Harland Inc. in settlement of interest payments on the Debenture Units 2023. As a result, Mr. Harland's shareholding, directly and indirectly, has increased by 0.69% to reach 21.33% on an undiluted basis after closing of the above repricing of the Debentures Units 2023 (has increased by 1.65% to reach 26.30% on a partly diluted basis). Xavier Harland, a holder of more than 10% of the outstanding securities of the Corporation on a partly diluted basis, has received directly 43,103 Common Shares pursuant to the settlement of the interests in shares and his Debenture Units 2021 are now convertible into up to a potential of 166,666 Common Shares. His shareholding, directly and indirectly, decreased by 0.35% to reach 8.77% on an undiluted basis after closing of the settlement of payments of interests and the above repricing of the First Tranche Debentures Units 2021 (decreased by 0.48% to reach 14.30% on a partly diluted basis). The issuances of the Common Shares to those insiders constitute related party transactions, but which are exempt from the requirement to provide a formal valuation and obtain minority approval under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (" Regulation 61-101"), and the board of directors of the Corporation, which includes independent directors in respect of the transactions who are not employees of the Corporation, has unanimously approved the issuances. These transactions are exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as the Corporation is listed on the TSX Venture Exchange and the fair market value of any security issued to, or the consideration paid, does not exceed 25% of the Corporation's market capitalization. Geekco did not file a material change report pertaining to the insiders' interests more than 21 days prior to the closing date, as such insiders' interests were not determined at that time. The board members of the Corporation unanimously reviewed its financial conditions and the state of the financial market and determined that the terms and conditions of the conversion of debenture interest into equity, including the issuance to the related party, were fair and equitable and represented the best strategic option available. In addition, neither the Corporation nor the said related parties have knowledge of any material information concerning the Corporation or its securities that has not been generally disclosed. ABOUT GEEKCO Geekco is positioned at the forefront of technological solutions that are evolving the new way of doing marketing while stimulating and energizing the economy of each city and each neighborhood by making consumers and shops interact like never before. Its Tell Me application allows users to discover businesses around them in real time using the interactive map, access exclusive rewards and even find a job. Shops thus increase their traffic and their visibility while recruiting their future employees. All this in the same app. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
