MISSISSAUGA, Ontario--(BUSINESS WIRE)--MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) announced today that, subject to acceptance by the TSX-V, the ultimate Closing Date for the non-brokered Private Placement of up to $1.5 million, which was previously announced on August 30, 2023, will be extended by up to 30 days. The Company has already received Conditional Acceptance for the placement from the TSX-V, but closing for the full amount of the proposed Placement has been delayed. The proposed placement, to accredited investors, is for the placement of up to 21,428,571 units at $0.07per unit (“Unit”). Each Unit will be comprised of One (1) fully paid common share and One (1) Share Purchase Warrant, exercisable to purchase One (1) further Common Share at the price of $0.12, exercisable for a period commencing on the date of issue and expiring on December 31, 2026. Closing of the Placement, which may take place in tranches, will be subject to receipt of subscriptions for a minimum of $500,000 and a number of other conditions, including without limitation the receipt of all relevant regulatory and Stock Exchange approvals or acceptances. Qualified Agents may receive commissions in respect of subscriptions introduced by them by way of cash equal to 6% of funds so introduced, and issuance of agent’s warrants (“Agent’s Warrant(s)”) equal in number to 6% of the number of units so subscribed for. Each Agent’s Warrant, which is non-transferable, will be exercisable to acquire one Unit at $0.07 per Unit, at any time during the period of two years following the Closing.
About MedX Health Corp.:
MedX, headquartered in Ontario, Canada, is a leading medical device and software company focused on skin health with its SIAscopy® on DermSecure® telemedicine platform, utilizing its SIAscopy® technology. SIAscopy® is also imbedded in its products SIAMETRICS®, SIMSYS®, and MoleMate®, which MedX manufactures in its ISO 13485 certified facility. SIAMETRICS®, SIMSYS®, and MoleMate® include hand-held devices that use patented technology utilizing light and its remittance to view up to 2 mm beneath suspicious moles and lesions in a pain free, non-invasive manner, with its software then creating real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. These products are cleared by Health Canada, the U.S. Food and Drug Administration, the Therapeutic Goods Administration and Conformité Européenne for use in Canada, the U.S., Australia, New Zealand, the European Union, Brazil and Turkey. Visit https://medxhealth.com.
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This Media Release may contain forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties.