Latest news with #PerimeterMedicalImagingAI
Yahoo
3 days ago
- Business
- Yahoo
Perimeter Launches OCT-Tissue Registry to Power AI and Imaging Innovation
Registry aims to collect thousands of images and data from surgeries performed nationwide TORONTO and DALLAS, June 4, 2025 /CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) ("Perimeter" or the "Company") announced today that it has launched the OCT-Tissue Surveillance Registry, a database that aims to collect thousands of images and data from surgical procedures performed using the company's imaging technology. Perimeter will use the registry to inform future product development and continually enhance the artificial intelligence ("AI") deep-learning model for its investigational next-generation technology. "I have used Perimeter's OCT technology in more than 120 surgeries, and it has become an invaluable tool," said Dr. Jennifer Tittensor, a general surgeon for Timpanogos Regional Hospital and the first contributor to the OCT-Tissue Registry. "In my practice, it helps me assess margins in real-time and decide whether I need to remove more tissue - potentially avoiding the need for a second surgery. Being a part of the registry allows me to track and analyze patient outcomes and help shape future improvements in the technology. I am excited to be involved." Perimeter's S-Series OCT utilizes the company's patented wide-field optical coherence tomography ("OCT") technology to enable surgeons to visualize tissue specimens in real-time, with ultra-high resolution, during surgery. Building on this foundation, the investigational next-generation B-Series OCT with ImgAssist AI 2.0, under premarket approval review by the U.S. Food and Drug Administration, integrates AI and is intended to help surgeons more efficiently detect suspicious tissue during breast-conserving surgery. "The launch of this registry provides an opportunity to patients and surgeons to help future patients have better clinical care," said Perimeter CEO Adrian Mendes. "We look forward to collaborating with physicians to collect high-quality data and images from a broad and diverse patient population. The more images we can gather from the widest range of patients, the better we can train our AI algorithm to detect patterns in various tissue types. This registry could potentially help physicians provide more personalized care, achieve clean margins more frequently, and reduce the need for second surgeries due to residual cancer." One of the biggest challenges with developing non-generative AI for medical applications is acquiring a large, diverse dataset that reflects a full range of patient characteristics, such as age, ethnicity, tissue density, and body mass. To develop the ImgAssist AI algorithm, Perimeter trained its deep learning models using several million proprietary OCT images of cancerous and healthy tissue. These models, created by the company's AI team, were designed for real-time use. The launch of the OCT-Tissue Registry enables Perimeter to use real-world images and clinical data to make its AI model even more sophisticated. The registry also allows surgeons to contribute retrospective data and track patient outcomes to evaluate surgical results over time. To learn more or inquire about participation in OCT-Tissue Registry, please contact Perimeter Medical Imaging AI Clinical Affairs at clinical@ About Perimeter Medical Imaging AI, Inc. Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSXV: PINK) (OTCQX: PYNKF) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that was evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. Patient enrollment completed in September 2024, with expected FDA submission in 2025. The company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month. S-Series Intended Use The S-Series OCT is indicated for use as an imaging tool in the evaluation of excised human tissue microstructure, by providing two-dimensional, cross-sectional, real-time depth visualization, with image review manipulation software for identifying and annotating regions of interest. S-Series Unapproved Uses The S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. Clinical evidence related to these uses can be found in the clinical evidence listed below. Contraindications, limitations, warnings and precautions, and how to obtain a full copy of the FDA-required instructions for use are also provided on this page. For more information on unapproved/off-label uses, contact medicalaffairs@ B-Series Intended Use B-Series OCT is an adjunctive three-dimensional imaging tool which provides volumetric cross-sectional, real-time depth visualization, coupled with an artificial intelligence computer aided detection algorithm which identifies and marks focal areas suspicious for breast cancer and is used concurrently with physician interpretation of the images. The device is intended for use in conjunction with other standard methods for evaluation of the margins of an excised lumpectomy specimen during surgical procedures in patients with a biopsy-confirmed diagnosis of breast cancer. CAUTION: Perimeter B-Series OCT is limited by U.S. law to investigational use and not available for sale in the United States. The safety and effectiveness of this device has not yet been evaluated by the U.S. FDA. For more information, please contact medicalaffairs@ Neither the 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. Forward-Looking Statements This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT and Perimeter B-Series OCT, the expected benefits of Perimeter's updated version of its ImgAssist AI, and Perimeter's expectations regarding the PMA submission to the FDA are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Management Discussion and Analysis for the year ended December 31, 2023, which is available on Perimeter's SEDAR+ profile at and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws. CONTACTS: Stephen KilmerInvestor RelationsDirect: 647-872-4849Email: skilmer@ Susan ThomasMedia RelationsDirect: 619-540-9195 Email: susan@ Adrian MendesChief Executive OfficerToll-free: 888-988-7465 (PINK)Email: investors@ View original content to download multimedia: SOURCE Perimeter Medical Imaging AI Inc. 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Yahoo
3 days ago
- Business
- Yahoo
Perimeter Launches OCT-Tissue Registry to Power AI and Imaging Innovation
Registry aims to collect thousands of images and data from surgeries performed nationwide TORONTO and DALLAS, June 4, 2025 /PRNewswire/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) ("Perimeter" or the "Company") announced today that it has launched the OCT-Tissue Surveillance Registry, a database that aims to collect thousands of images and data from surgical procedures performed using the company's imaging technology. Perimeter will use the registry to inform future product development and continually enhance the artificial intelligence ("AI") deep-learning model for its investigational next-generation technology. "I have used Perimeter's OCT technology in more than 120 surgeries, and it has become an invaluable tool," said Dr. Jennifer Tittensor, a general surgeon for Timpanogos Regional Hospital and the first contributor to the OCT-Tissue Registry. "In my practice, it helps me assess margins in real-time and decide whether I need to remove more tissue - potentially avoiding the need for a second surgery. Being a part of the registry allows me to track and analyze patient outcomes and help shape future improvements in the technology. I am excited to be involved." Perimeter's S-Series OCT utilizes the company's patented wide-field optical coherence tomography ("OCT") technology to enable surgeons to visualize tissue specimens in real-time, with ultra-high resolution, during surgery. Building on this foundation, the investigational next-generation B-Series OCT with ImgAssist AI 2.0, under premarket approval review by the U.S. Food and Drug Administration, integrates AI and is intended to help surgeons more efficiently detect suspicious tissue during breast-conserving surgery. "The launch of this registry provides an opportunity to patients and surgeons to help future patients have better clinical care," said Perimeter CEO Adrian Mendes. "We look forward to collaborating with physicians to collect high-quality data and images from a broad and diverse patient population. The more images we can gather from the widest range of patients, the better we can train our AI algorithm to detect patterns in various tissue types. This registry could potentially help physicians provide more personalized care, achieve clean margins more frequently, and reduce the need for second surgeries due to residual cancer." One of the biggest challenges with developing non-generative AI for medical applications is acquiring a large, diverse dataset that reflects a full range of patient characteristics, such as age, ethnicity, tissue density, and body mass. To develop the ImgAssist AI algorithm, Perimeter trained its deep learning models using several million proprietary OCT images of cancerous and healthy tissue. These models, created by the company's AI team, were designed for real-time use. The launch of the OCT-Tissue Registry enables Perimeter to use real-world images and clinical data to make its AI model even more sophisticated. The registry also allows surgeons to contribute retrospective data and track patient outcomes to evaluate surgical results over time. To learn more or inquire about participation in OCT-Tissue Registry, please contact Perimeter Medical Imaging AI Clinical Affairs at clinical@ About Perimeter Medical Imaging AI, Inc. Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSXV: PINK) (OTCQX: PYNKF) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that was evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. Patient enrollment completed in September 2024, with expected FDA submission in 2025. The company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month. S-Series Intended Use The S-Series OCT is indicated for use as an imaging tool in the evaluation of excised human tissue microstructure, by providing two-dimensional, cross-sectional, real-time depth visualization, with image review manipulation software for identifying and annotating regions of interest. S-Series Unapproved Uses The S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. Clinical evidence related to these uses can be found in the clinical evidence listed below. Contraindications, limitations, warnings and precautions, and how to obtain a full copy of the FDA-required instructions for use are also provided on this page. For more information on unapproved/off-label uses, contact medicalaffairs@ B-Series Intended Use B-Series OCT is an adjunctive three-dimensional imaging tool which provides volumetric cross-sectional, real-time depth visualization, coupled with an artificial intelligence computer aided detection algorithm which identifies and marks focal areas suspicious for breast cancer and is used concurrently with physician interpretation of the images. The device is intended for use in conjunction with other standard methods for evaluation of the margins of an excised lumpectomy specimen during surgical procedures in patients with a biopsy-confirmed diagnosis of breast cancer. CAUTION: Perimeter B-Series OCT is limited by U.S. law to investigational use and not available for sale in the United States. The safety and effectiveness of this device has not yet been evaluated by the U.S. FDA. For more information, please contact medicalaffairs@ Neither the 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. Forward-Looking Statements This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT and Perimeter B-Series OCT, the expected benefits of Perimeter's updated version of its ImgAssist AI, and Perimeter's expectations regarding the PMA submission to the FDA are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Management Discussion and Analysis for the year ended December 31, 2023, which is available on Perimeter's SEDAR+ profile at and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws. CONTACTS: Stephen KilmerInvestor RelationsDirect: 647-872-4849Email: skilmer@ Susan ThomasMedia RelationsDirect: 619-540-9195 Email: susan@ Adrian MendesChief Executive OfficerToll-free: 888-988-7465 (PINK)Email: investors@ View original content to download multimedia: SOURCE Perimeter Medical Imaging AI Inc. 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Cision Canada
3 days ago
- Business
- Cision Canada
Perimeter Launches OCT-Tissue Registry to Power AI and Imaging Innovation
TORONTO and DALLAS, June 4, 2025 /CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) (" Perimeter" or the " Company") announced today that it has launched the OCT-Tissue Surveillance Registry, a database that aims to collect thousands of images and data from surgical procedures performed using the company's imaging technology. Perimeter will use the registry to inform future product development and continually enhance the artificial intelligence ("AI") deep-learning model for its investigational next-generation technology. "I have used Perimeter's OCT technology in more than 120 surgeries, and it has become an invaluable tool," said Dr. Jennifer Tittensor, a general surgeon for Timpanogos Regional Hospital and the first contributor to the OCT-Tissue Registry. "In my practice, it helps me assess margins in real-time and decide whether I need to remove more tissue - potentially avoiding the need for a second surgery. Being a part of the registry allows me to track and analyze patient outcomes and help shape future improvements in the technology. I am excited to be involved." Perimeter's S-Series OCT utilizes the company's patented wide-field optical coherence tomography ("OCT") technology to enable surgeons to visualize tissue specimens in real-time, with ultra-high resolution, during surgery. Building on this foundation, the investigational next-generation B-Series OCT with ImgAssist AI 2.0, under premarket approval review by the U.S. Food and Drug Administration, integrates AI and is intended to help surgeons more efficiently detect suspicious tissue during breast-conserving surgery. "The launch of this registry provides an opportunity to patients and surgeons to help future patients have better clinical care," said Perimeter CEO Adrian Mendes. "We look forward to collaborating with physicians to collect high-quality data and images from a broad and diverse patient population. The more images we can gather from the widest range of patients, the better we can train our AI algorithm to detect patterns in various tissue types. This registry could potentially help physicians provide more personalized care, achieve clean margins more frequently, and reduce the need for second surgeries due to residual cancer." One of the biggest challenges with developing non-generative AI for medical applications is acquiring a large, diverse dataset that reflects a full range of patient characteristics, such as age, ethnicity, tissue density, and body mass. To develop the ImgAssist AI algorithm, Perimeter trained its deep learning models using several million proprietary OCT images of cancerous and healthy tissue. These models, created by the company's AI team, were designed for real-time use. The launch of the OCT-Tissue Registry enables Perimeter to use real-world images and clinical data to make its AI model even more sophisticated. The registry also allows surgeons to contribute retrospective data and track patient outcomes to evaluate surgical results over time. To learn more or inquire about participation in OCT-Tissue Registry, please contact Perimeter Medical Imaging AI Clinical Affairs at [email protected]. About Perimeter Medical Imaging AI, Inc. Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSXV: PINK) (OTCQX: PYNKF) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that was evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. Patient enrollment completed in September 2024, with expected FDA submission in 2025. The company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month. S-Series Intended Use The S-Series OCT is indicated for use as an imaging tool in the evaluation of excised human tissue microstructure, by providing two-dimensional, cross-sectional, real-time depth visualization, with image review manipulation software for identifying and annotating regions of interest. S-Series Unapproved Uses The S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. Clinical evidence related to these uses can be found in the clinical evidence listed below. Contraindications, limitations, warnings and precautions, and how to obtain a full copy of the FDA-required instructions for use are also provided on this page. For more information on unapproved/off-label uses, contact [email protected]. B-Series Intended Use B-Series OCT is an adjunctive three-dimensional imaging tool which provides volumetric cross-sectional, real-time depth visualization, coupled with an artificial intelligence computer aided detection algorithm which identifies and marks focal areas suspicious for breast cancer and is used concurrently with physician interpretation of the images. The device is intended for use in conjunction with other standard methods for evaluation of the margins of an excised lumpectomy specimen during surgical procedures in patients with a biopsy-confirmed diagnosis of breast cancer. CAUTION: Perimeter B-Series OCT is limited by U.S. law to investigational use and not available for sale in the United States. The safety and effectiveness of this device has not yet been evaluated by the U.S. FDA. For more information, please contact [email protected]. Neither the 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. Forward-Looking Statements This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT and Perimeter B-Series OCT, the expected benefits of Perimeter's updated version of its ImgAssist AI, and Perimeter's expectations regarding the PMA submission to the FDA are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Management Discussion and Analysis for the year ended December 31, 2023, which is available on Perimeter's SEDAR+ profile at and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws. Stephen Kilmer Investor Relations Direct: 647-872-4849 Email: [email protected] Susan Thomas Media Relations Direct: 619-540-9195 Email: [email protected] Adrian Mendes Chief Executive Officer Toll-free: 888-988-7465 (PINK) Email: [email protected] SOURCE Perimeter Medical Imaging AI Inc.
Cision Canada
4 days ago
- Business
- Cision Canada
Perimeter Announces Closing of Prospectus Offering
TORONTO and DALLAS, June 3, 2025 /CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) (" Perimeter" or the " Company"), a commercial-stage medical technology company, is pleased to announce that it has completed its previously announced prospectus offering (the " Offering") of units of the Company (the " Units") and pre-funded units of the Company. The Offering was completed on a reasonable "best efforts" agency basis pursuant to an agency agreement (the " Agency Agreement") dated May 29, 2025 between the Company and A.G.P. Canada Investments ULC (the " Agent"). Pursuant to the Offering, the Company has issued an aggregate of 10,432,801 Units at a price of $0.30 per Unit (the " Offering Price") for aggregate gross proceeds of $3,129,840. Each Unit is comprised of one common share in the capital of the Company (each a " Common Share") and one Common Share purchase warrant (each a " Warrant"). Each Warrant entitles the holder to acquire an additional Common Share for a period of 60 months, at an exercise price of $0.35. Pursuant to the terms of the Agency Agreement, the Agent was entitled to receive a cash fee equal to 7.0% of the gross proceeds raised under the Offering, and compensation options equal to 5.0% of the aggregate number of Units issued under the Offering (the " Compensation Options"), with a reduced cash commission of 3.5% and Compensation Options equal to 2.5% payable in respect of Units sold to certain purchasers on a president's list. In addition, the Agent will receive no cash commission or Compensation Options with respect to sales to certain insiders of the Company. Each Compensation Option entitles the Agent to buy one Common Share at the same price as the price per Unit under the Offering. The Compensation Options are exercisable until that date which is 36 months following the closing date. The Company intends to use the net proceeds from the Offering to continue the commercialization of its technology, establish clinical evidence and continue product development. The Company also intends to use the net proceeds for working capital and other general corporate purposes. The Company may close additional tranches of the Offering for total gross proceeds of up to $15,000,000 (inclusive of the initial closing). The Offering was completed by way of a short form prospectus dated May 29, 2025 (the " Prospectus"). The Prospectus and the Agency Agreement are available on SEDAR+ at and contain important detailed information about the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the " 1933 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 of the 1933 Act, and applicable state securities laws. Social Capital, a control person of the Company purchased a total of 115,217 Units under the Offering. The placement to such person constituted a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61- 101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101). The Company has not filed a material change report more than 21 days before the expected closing of the Offering as the details of the Offering and the participants thereof were only finalized shortly before the closing of the Offering. About Perimeter Medical Imaging AI, Inc. Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTCQX: PYNKF) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The Company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month. Perimeter B-Series OCT is limited by U.S. law to investigational use and not available for sale in the United States. Perimeter S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by the U.S. FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. For more information, please visit Neither the 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. Forward-Looking Statements This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, statements regarding the use of proceeds from the Offering and the closing of additional tranches, are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Annual Information Form for the year ended December 31, 2024, which is available on Perimeter's SEDAR+ profile at and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws. Contacts Stephen Kilmer Investor Relations Direct: 647-872-4849 Email: [email protected] Adrian Mendes Chief Executive Officer Toll-free: 888-988-7465 (PINK) Email: [email protected]
Yahoo
4 days ago
- Business
- Yahoo
Perimeter Announces Closing of Prospectus Offering
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO and DALLAS, June 3, 2025 /CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) ("Perimeter" or the "Company"), a commercial-stage medical technology company, is pleased to announce that it has completed its previously announced prospectus offering (the "Offering") of units of the Company (the "Units") and pre-funded units of the Company. The Offering was completed on a reasonable "best efforts" agency basis pursuant to an agency agreement (the "Agency Agreement") dated May 29, 2025 between the Company and A.G.P. Canada Investments ULC (the "Agent"). Pursuant to the Offering, the Company has issued an aggregate of 10,432,801 Units at a price of $0.30 per Unit (the "Offering Price") for aggregate gross proceeds of $3,129,840. Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire an additional Common Share for a period of 60 months, at an exercise price of $0.35. Pursuant to the terms of the Agency Agreement, the Agent was entitled to receive a cash fee equal to 7.0% of the gross proceeds raised under the Offering, and compensation options equal to 5.0% of the aggregate number of Units issued under the Offering (the "Compensation Options"), with a reduced cash commission of 3.5% and Compensation Options equal to 2.5% payable in respect of Units sold to certain purchasers on a president's list. In addition, the Agent will receive no cash commission or Compensation Options with respect to sales to certain insiders of the Company. Each Compensation Option entitles the Agent to buy one Common Share at the same price as the price per Unit under the Offering. The Compensation Options are exercisable until that date which is 36 months following the closing date. The Company intends to use the net proceeds from the Offering to continue the commercialization of its technology, establish clinical evidence and continue product development. The Company also intends to use the net proceeds for working capital and other general corporate purposes. The Company may close additional tranches of the Offering for total gross proceeds of up to $15,000,000 (inclusive of the initial closing). The Offering was completed by way of a short form prospectus dated May 29, 2025 (the "Prospectus"). The Prospectus and the Agency Agreement are available on SEDAR+ at and contain important detailed information about the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 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 of the 1933 Act, and applicable state securities laws. Social Capital, a control person of the Company purchased a total of 115,217 Units under the Offering. The placement to such person constituted a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61- 101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101). The Company has not filed a material change report more than 21 days before the expected closing of the Offering as the details of the Offering and the participants thereof were only finalized shortly before the closing of the Offering. About Perimeter Medical Imaging AI, Inc. Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTCQX: PYNKF) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The Company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month. Perimeter B-Series OCT is limited by U.S. law to investigational use and not available for sale in the United States. Perimeter S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by the U.S. FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. For more information, please visit Neither the 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. Forward-Looking Statements This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, statements regarding the use of proceeds from the Offering and the closing of additional tranches, are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Annual Information Form for the year ended December 31, 2024, which is available on Perimeter's SEDAR+ profile at and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws. Contacts Stephen KilmerInvestor RelationsDirect: 647-872-4849Email: skilmer@ Adrian MendesChief Executive OfficerToll-free: 888-988-7465 (PINK)Email: investors@ SOURCE Perimeter Medical Imaging AI Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
