Grey Matters Health Inc. (GREY:CSE; AGW0:FRA; AGNPF:OTCQB) announced that it amended the warrant terms of its recently announced non-brokered private placement by removing the acceleration feature and extending the warrant exercise period to three years. All other terms of the offering remain unchanged.
The company previously announced a non-brokered private placement for gross proceeds of CA$1,000,000 through the issuance of units priced at CA$0.40 each. Each unit will consist of one Class A common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of CA$0.60 per share for a period of 36 months from the issuance date.
According to the company, proceeds from the offering will be used to advance its Alzheimer's Disease program toward the opening of its first U.S. brain-specific neuroimaging clinic, as well as for general and administrative expenses and working capital purposes.
The company stated that the securities issued and issuable under the offering will be subject to a statutory hold period of four months plus one day from the date of issuance under applicable Canadian securities legislation.
Grey Matters stated in its investor presentation that it is focused on diagnosing Alzheimer's Disease with brain-optimized PET scans and described the initiative as targeting a "US$6.9 Billion Emerging Market."
Neuroimaging Clinic Expansion Plans
Grey Matters stated in its investor presentation that it plans to establish "a new, national network of private U.S. neuroimaging medical clinics" dedicated to offering FDA-cleared brain-specific PET scanning technology for the detection of Alzheimer's Disease, epilepsy, Parkinson's disease, multiple sclerosis, brain cancers, and other indications. The presentation stated that 200 neuroimaging clinic locations are planned in the United States.
According to the presentation, the company's first NovaScan Neuroimaging Clinic is planned for Davie, Florida, with the location situated within the HCA Florida University Medical Office Building on the HCA Florida University Hospital campus. The presentation stated that approximately six million people are within one hour's drive of the clinic location.
The company stated that its clinics will utilize the CareMiBrain PET Brain Scanning System, which it described as FDA-cleared in 2024 and capable of delivering brain scans with 25% less radiation because no CT scan is required. The presentation stated that the systems are ultra compact, operate using standard wall outlet power, and that scans are covered by U.S. Medicare, Medicaid, and private insurance with a minimum reimbursement figure of US$4,500 per scan.
Streetwise Ownership Overview*
Grey Matters Health Inc. (GREY:CSE; AGW0:FRA; AGNPF:OTCQB)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 04/21/26 | AGN | 10 | GREY | 1 |
| 03/03/23 | AGN | 1 | AGN | 4 |
| 11/24/21 | AGN | 100 | AGN | 1 |
| 02/19/19 | BTH | 1 | AGN | 1 |
| 10/17/18 | BTH | 2 | BTH | 1 |
Grey Matters also outlined clinic operating metrics in the presentation, including estimated capital requirements of US$1.1 million per clinic, consisting of approximately US$850,000 for scanners and US$250,000 for shielding, furniture, clinic equipment, marketing, and working capital. The company stated that the clinics are expected to average 1,750 square feet and support a maximum of 15 scans per day and 3,600 scans annually.
The presentation stated that Grey Matters entered into a US$4 million supply, financing, and services agreement with Catalyst MedTech, which the company described as the exclusive distributor of the CareMiBrain PET brain-specific scanner in the United States. Grey Matters stated that Catalyst MedTech is providing clinical solutions, including radioactive materials application consultation, guidance on policies and procedures, license and permit application drafting, submission assistance, and regulatory response support.
Grey Matters also stated that American Molecular Imaging will provide radiology reading services to its U.S. neuroimaging clinics and that the company is a US$250,000 equity investor in Grey Matters Health Inc.
The company further stated that NovaScan Neuroimaging Clinics will source Vizamyl F18-PET tracers from GE HealthCare Technologies for its Florida clinics.
Ownership and Share Structure2
Management and insiders own about 11% of the company, and about 21% is owned by institutions. The rest is with retail.
Top shareholders include Alpha North Asset Management with 20.52%, Chief Executive Officer Christopher Moreau with 5.05%, Chairman of the Board Harry Bloomfield with 1.97%, Chief Financial Officer James Kinley with 1.4%, and Director Rajpaul Attariwala with 1.2%.
Grey Matters has 54.1 million outstanding shares, a market cap of US$1.37 million, and a 52-week range of US$0.035 - US$0.10.
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Important Disclosures:
- Grey Matters Health has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Grey Matters Health.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
- This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.
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1. Disclosure for the quote from the Stewart Thomson article published on March 26, 2026
- For the quoted article (published on March 26, 2026), Grey Matters Health has paid Street Smart, an affiliate of Streetwise Reports, US$3000.
- Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
2. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
