SQI Diagnostics Inc. announced that it has completed a non-brokered private placement of secured debentures at a price of $1,000 per Debenture for aggregate gross proceeds of $4.05 million. The Debentures will bear interest at a rate of 8% per annum and will mature two years from the date of issuance. The Debentures were purchased by three insiders of the Company, who are control persons of the Company. The transaction is subject to all necessary regulatory and approvals, including the final approval of the TSX Venture Exchange. The Debentures will be subject to a hold period expiring four months and one day from the date of issuance in accordance with
applicable Canadian securities law.