PCP becomes Diagnos minority investor at close of Warnex merger

Canadian healthcare-focused private equity firm Persistence Capital Partners (PCP) has become a minority shareholder in Diagnos Inc (TSXV: ADK) following the completion of Diagnos’ merger with Warnex Inc, a PCP portfolio company. PCP has assumed a 13.76 percent interest in Diagnos, which is a Brossard, Québec-based provider of data mining and consulting services and a designer of data analytics software for healthcare and natural resources industries. PCP also holds warrants to purchase common shares of the company. Based in Montréal, PCP is currently raising its second fund, Persistence Capital Partners II LP.


Persistence Capital Partners Files Early Warning Report

MONTREAL, July 10, 2014 /CNW Telbec/ – Persistence Capital Partners LP (“PCP”), a leading Canadian private equity firm focused exclusively on investments in high growth opportunities in the healthcare field, is pleased to announce that, in connection with the completion of the three-cornered amalgamation (the “Amalgamation”) among Warnex Inc. (“Warnex”) and 8910979 Canada Inc., a wholly owned subsidiary of Diagnos Inc. (“Diagnos”) which closed on July 8, 2014, PCP became a 13.76% shareholder of Diagnos.

PCP became the beneficial owner of 14,604,274 common shares of Diagnos in exchange for 14,604,274 shares of Warnex, representing 13.76% of the issued and outstanding shares of Diagnos. PCP also became the owner of 1,875,000 warrants to purchase common shares of Diagnos at an exercise price of $0.10 per share in exchange for the cancellation of 1,875,000 warrants to purchase common shares of Warnex.

The common shares of Warnex held by PCP were exchanged for common shares of Diagnos in connection with the Amalgamation. PCP also holds warrants to purchase common shares of Diagnos, issued in exchange for its warrants to purchase common shares of Warnex in connection with the Amalgamation. PCP may, from time to time, acquire additional securities of Diagnos, dispose or continue to hold its position in securities of Diagnos.

This press release is issued pursuant to the early warning report requirements of applicable securities laws of Canada which also requires a report to be filed on SEDAR containing additional information with respect to the foregoing matters. A copy of such early warning report can be found on SEDAR (www.sedar.com).

About Persistence Capital Partners

Persistence Capital Partners is a leading investment firm exclusively focused on high-growth opportunities in the healthcare field. With its deep industry expertise, PCP aims to create significant long term capital appreciation by identifying and developing attractive investment opportunities in the healthcare market, with a focus on healthcare services businesses across a broad spectrum of the healthcare sector.

SOURCE Persistence Capital Partners LP

For further information: Lloyd M. Segal, Managing Partner, Persistence Capital Partners, Tel: (514) 499 2778

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