DiagnaMed Acquires Strategic Ontario Claims Adjacent to QIMC in Premier Temiscamingue Hydrogen District

Rhea-AI Summary

DiagnaMed Holdings (DGNMF) has acquired 91 unpatented mineral claims totaling 1,820 hectares in Ontario's Temiscamingue hydrogen district, adjacent to Quebec Innovative Materials Corp's (QIMC) project area. The strategic acquisition positions DiagnaMed to advance its proprietary hydrogen extraction technologies in one of Canada's most promising natural hydrogen regions.

The deal terms include a $25,000 non-refundable payment and the issuance of 12.5 million common shares. The sellers receive a 2% royalty on revenues from hydrogen or mineral sales, with an option for DiagnaMed to purchase 50% of the royalty for $2 million. The acquisition aims to foster collaboration with QIMC and accelerate technology commercialization in the region.

Positive

• Strategic acquisition of 1,820 hectares adjacent to QIMC's project in a prime hydrogen district
• Potential operational synergies and technical collaboration with QIMC
• Location in favorable geological conditions for natural hydrogen generation
• Option to reduce royalty burden by 50% for $2 million

Negative

• Significant share dilution through issuance of 12.5 million common shares
• 2% revenue royalty obligation on all hydrogen and mineral sales
• Initial cash outlay of $25,000 required

TORONTO, May 29, 2025 (GLOBE NEWSWIRE) -- DiagnaMed Holdings Corp. (“DiagnaMed” or the “Company”) (CSE: DMED) (OTCQB: DGNMF), a Canadian technology innovator specializing in advanced hydrogen extraction technologies, is pleased to announce the strategic acquisition of claims located adjacent to Quebec Innovative Materials Corp. (“QIMC”) (CSE: QIMC) (OTCQB: QIMCF), comprising 91 unpatented, single-cell mineral claims, each cell approximately 20 hectares in size, totaling an area of 1820 hectares, within Ontario’s highly prospective Temiscamingue hydrogen district and graben. This acquisition positions DiagnaMed prominently within one of Canada's most promising natural hydrogen regions, providing an ideal environment to advance testing, validation, and commercialization of the Company’s proprietary hydrogen extraction technologies and exploration model.

The newly acquired claims are situated directly adjacent to QIMC’s project area, allowing for operational synergies and technical collaboration. The Temiscamingue region is widely recognized for its favorable geological conditions conducive to substantial natural hydrogen generation, offering significant potential for DiagnaMed’s technology validation and commercial development.

Under the terms of the acquisition agreement, the Company is required to make a non-refundable $25,000 payment and issue twelve million five hundred thousand common shares to the sellers in exchange for the Temiscamingue project. In addition, DiagnaMed has granted certain sellers a 2.0-per-cent royalty on revenues from the sale of any hydrogen or other minerals on the property. Fifty per cent of the seller royalty may be purchased for $2 million.

Fabio Chianelli, CEO of DiagnaMed, stated, "We are extremely excited about this strategic acquisition, which firmly places DiagnaMed at the heart of a key Canadian natural hydrogen hub. The proximity to QIMC, a leader in natural hydrogen exploration and development, offers unique collaborative opportunities, enabling us to efficiently accelerate the commercialization of our innovative hydrogen extraction technology. We anticipate that this initiative will significantly enhance our competitive edge and pave the way for broader market opportunities."

John Karagiannidis, President of Quebec Innovative Materials Corp., commented, "We warmly welcome DiagnaMed into the Temiscamingue hydrogen district. This acquisition is timely and synergistic, aligning perfectly with our ongoing exploration efforts in Ontario. We believe that DiagnaMed’s technology and strategic vision will complement QIMC’s proven exploration model, fostering a dynamic environment that accelerates innovation and commercialization in this promising region."

Both DiagnaMed and QIMC are committed to sustainable energy solutions and leveraging Canada's significant geological resources to meet increasing global demand for clean energy.

About DiagnaMed

DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) is a Canadian technology innovator specializing in advanced hydrogen extraction technologies designed to support the rapidly growing natural hydrogen industry. Focused on commercial scalability, DiagnaMed aims to deliver cost-effective, sustainable, and efficient hydrogen solutions critical for global energy security and decarbonization. Visit DiagnaMed.com.

For more information, please contact:

Fabio Chianelli
Chairman and CEO
DiagnaMed Holdings Corp.
Tel: 416-800-2684
Email: info@diagnamed.com
Website: www.diagnamed.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “will”, “may”, “expect”, “could”, “can”, “estimate”, “anticipate”, “intend”, “believe”, “projected”, “aims”, and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Company’s management’s discussion and analysis for the Three and Six Months Ended March 31, 2025 (“MD&A”), dated May 28, 2025, which is available on the Company's profile at www.sedarplus.ca. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

FAQ

What did DiagnaMed (DGNMF) acquire in the Temiscamingue hydrogen district?

DiagnaMed acquired 91 unpatented mineral claims totaling 1,820 hectares adjacent to QIMC's project area in Ontario's Temiscamingue hydrogen district.

What are the terms of DiagnaMed's Temiscamingue acquisition?

The acquisition terms include a $25,000 non-refundable payment, issuance of 12.5 million common shares, and a 2% royalty on revenues, with an option to buy back 50% of the royalty for $2 million.

How will the Temiscamingue acquisition benefit DiagnaMed?

The acquisition positions DiagnaMed in a key Canadian hydrogen hub, enabling technology validation and commercialization while fostering collaboration with QIMC in favorable geological conditions for hydrogen generation.

What is the relationship between DiagnaMed and QIMC in the Temiscamingue project?

DiagnaMed's newly acquired claims are directly adjacent to QIMC's project area, creating opportunities for operational synergies and technical collaboration between the two companies.