IQ-AI Limited Placing (4081D)

TIDMIQAI

RNS Number : 4081D

IQ-AI Limited

26 June 2019

IQ-AI Ltd

("IQ-AI" or the "Company")

Placing

Following strong demand from existing and new shareholders, IQ-AI is pleased to announce that it has raised GBP250,000 through the placing of 7,142,857 new ordinary shares (the "Placing Shares") at a price of 3.5 pence per Placing Share (the "Placing Price") (the "Placing") through Peterhouse Capital Limited, the Company's Financial Adviser and Broker.

The funds will be used to accelerate the development of our current Imaging Biometrics Artificial Intelligence ("AI") projects, including Stone Checker, in response to rapidly growing interest in these technologies by medical practitioners.

It is expected that the Placing shares will commence trading at 8.00am on 1 July 2019.

Following completion of the Placing, the Company's issued share capital will consist of 127,489,352 ordinary shares of 1 penny each. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

The Directors of the Company accept responsibility for the contents of this announcement.

-ENDS-

For further information, please contact:

 
 IQ-AI Limited 
  Trevor Brown/Vinod Kaushal/Qu Li 
  Tel: [phone] 
---------------------------------------------------------- 
 Peterhouse Capital Limited (Financial Adviser and Broker) 
  Lucy Williams/Fungai Ndoro 
  Tel: [phone] 
---------------------------------------------------------- 
 

About IQ-AI Ltd

IQ-AI, Ltd, the parent company of StoneChecker(R) and Imaging Biometrics(R), is focused on advanced and state of the art medical software and services. (IQ-AI.ltd). Imaging Biometrics develops and provides visualization and analytical solutions that enable clinicians to better diagnose and treat diseases with greater confidence. Through close collaboration with top researchers and clinicians, sophisticated advancements are translated into platform-independent software plug-ins which can extend the base functionality of workstations, imaging systems, PACS, or medical viewers. By design, IB's advanced visualization software seamlessly integrates into routine workflows. Please visit www.imagingbiometrics.com for further information.

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June 26, 2019 02:00 ET (06:00 GMT)