DiagnaMed Completes Acquisition of Colchester East Natural Hydrogen Project in Nova Scotia

Rhea-AI Summary

DiagnaMed (OTCQB:DGNMF, CSE:DMED) closed its acquisition of the Colchester East Natural Hydrogen Project in Nova Scotia, covering 30 licenses and 2,104 claims in the Cumberland Basin.

Consideration totaled $10,000 cash plus 10,000,000 shares at $0.06, a 2% gross revenue royalty, and an option to repurchase 50% of the royalty for $2,000,000. DiagnaMed also granted 7,000,000 options at $0.075, exercisable for two years.

Positive

• Acquisition of 30 licenses totaling 2,104 claims in Nova Scotia
• Entry into Canada's active Colchester East natural hydrogen corridor
• Consideration includes $10,000 cash plus 10,000,000 shares at $0.06
• 2.0% gross revenue royalty can be reduced 50% for $2,000,000
• Acquisition complements existing land in Ontario's Temiscamingue corridor
• Supports strategy to advance natural hydrogen extraction technologies

Negative

• Issuance of 10,000,000 new common shares creates potential dilution
• Vendors hold a continuing 2.0% gross revenue royalty on production
• Grant of 7,000,000 options at $0.075 adds further equity overhang

News Market Reaction – DGNMF

+0.59%

+0.59% Session close to close

In the May 15 session, DGNMF gained 0.59%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Toronto, Ontario--(Newsfile Corp. - May 15, 2026) - DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF) ("DiagnaMed" or the "Company") announces that it has closed its previously announced (see press release of December 10, 2025) acquisition of the Colchester East Natural Hydrogen Project (the "Property"), consisting of 30 licenses totaling 2,104 claims located within the Cumberland Basin in Nova Scotia.

Pursuant to the closing of the acquisition, the Company acquired the Property by paying: (i) $10,000 in cash; and (ii) issuing an aggregate of 10,000,000 common shares at an issue price of $0.06 per share, being the closing price of the common shares of the Company on the CSE on the date immediately preceding the closing date. The two arm's length vendors of the Property each received 5,000,000 common shares, which are subject to a statutory four-month-and-one-day hold period.

In addition, the vendors were granted a 2.0% gross revenue royalty on hydrogen, helium or any other mineral product sold from the Property. The Company may purchase, at its sole option, 50% of the Royalty at any time for $2,000,000.

This strategic acquisition positions DiagnaMed directly within Canada's most active and rapidly expanding natural hydrogen corridor-a region that has seen increased exploration interest.

The acquisition also complements DiagnaMed's existing land position in Ontario's Temiscamingue hydrogen corridor and supports the Company's strategy to advance next-generation natural hydrogen extraction technologies.

Grant of Options

DiagnaMed also announces that the Board of Directors has today granted an aggregate of 7,000,000 options at an exercise price of $0.075 to certain directors, officers and service providers. The options are exercisable for a term of two years.

About DiagnaMed Holdings Corp. (CSE: DMED)

DiagnaMed is a Canadian technology innovator focused on developing advanced natural hydrogen extraction technologies to support the rapidly growing hydrogen sector. The Company is committed to delivering scalable, cost-efficient, and sustainable solutions essential to global energy security and decarbonization. Visit www.DiagnaMed.com.

For more information, please contact:
DiagnaMed Holdings Corp.
John Karagiannidis, President & CEO
Tel: 514-726-7058
Email: info@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 Months Ended December 31, 2025 ("MD&A"), 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297607

FAQ

What did DiagnaMed (DGNMF) acquire in the Colchester East Natural Hydrogen Project?

DiagnaMed acquired the Colchester East Natural Hydrogen Project, consisting of 30 licenses and 2,104 claims in Nova Scotia. According to DiagnaMed, the property lies in the Cumberland Basin within Canada’s active and expanding natural hydrogen corridor.

How much did DiagnaMed (DGNMF) pay for the Colchester East hydrogen project?

DiagnaMed paid $10,000 in cash and issued 10,000,000 common shares at $0.06 per share. According to DiagnaMed, the vendors also received a 2.0% gross revenue royalty and an option structure allowing partial royalty repurchase for $2,000,000.

What is the royalty structure on DiagnaMed’s Colchester East hydrogen project (DGNMF)?

The vendors hold a 2.0% gross revenue royalty on hydrogen, helium or other minerals from the property. According to DiagnaMed, the company can buy back 50% of this royalty at any time for $2,000,000, potentially improving future project economics.

How does the Colchester East acquisition affect DiagnaMed’s (DGNMF) hydrogen strategy?

The acquisition positions DiagnaMed in Canada’s most active natural hydrogen corridor and complements its Temiscamingue land in Ontario. According to DiagnaMed, the expanded land base supports advancing next-generation natural hydrogen extraction technologies across multiple strategic regions.

What new stock options did DiagnaMed (DGNMF) grant on May 15, 2026?

On May 15, 2026, DiagnaMed granted 7,000,000 options at an exercise price of $0.075 to directors, officers and service providers. According to DiagnaMed, these options are exercisable for two years, potentially increasing the company’s fully diluted share count.

How many shares did each vendor receive in the DiagnaMed (DGNMF) Colchester East deal?

Each of the two arm’s length vendors received 5,000,000 common shares as part of the consideration. According to DiagnaMed, these shares are subject to a statutory four‑month‑and‑one‑day hold period, restricting immediate resale into the market.