Grey Matters Health Inc Increases Private Placement Offering to CAD 1.1 Million

Grey Matters Health Inc, a Canadian healthcare company, has announced an increase in its private placement offering, raising the total expected gross proceeds from CAD $800,000 to CAD $1.1 million. The company initially planned to sell equity units and convertible debenture units, but the latest update reflects an expansion of the offering.

The first tranche of the private placement, which closed on September 10, 2026, raised CAD $600,000. This included CAD $285,000 from the sale of 712,500 equity units and CAD $315,000 from the sale of convertible debenture units. Each equity unit, priced at CAD $0.40, consists of one common share and one common share purchase warrant. The warrants allow the holder to acquire one common share at an exercise price of CAD $0.60 for a period of 36 months from the issuance date.

The second tranche, expected to close by September 21, 2026, will add CAD $250,000 from the sale of equity units and CAD $250,000 from the sale of convertible debenture units. Each debenture unit includes a CAD $1,000 convertible debenture and 2,198 common share purchase warrants. The debentures carry interest at a rate of 10% per annum, payable semi-annually until the maturity date, which is 24 months from the closing date. Holders can convert the outstanding principal and interest into common shares at a fixed price of CAD $0.455 per share on or before the maturity date. The company also has the option to prepay the principal and interest without penalty.

Grey Matters intends to use the proceeds from this private placement to advance its Alzheimer’s Disease program, specifically to support the opening of a U.S. brain-specific neuroimaging clinic, cover general and administrative expenses, and provide working capital. The company aims to leverage the additional funding to accelerate its research and development efforts and expand its services.

The securities issued and issuable under this and previous offerings will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable Canadian securities legislation. The company has emphasized that the securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold within the United States or to U.S. persons without registration or an applicable exemption.

Grey Matters Health Inc continues to focus on providing brain-dedicated PET scanning services through a planned network of new neuroimaging clinics in the U.S. for the early-stage detection of Alzheimer’s Disease and other forms of neurodegenerative diseases, including frontotemporal dementia, Parkinson’s, and Lewy body dementia. The company also plans to offer other select neuro-oncology imaging applications.