MISSISSAUGA, Ontario--(BUSINESS WIRE)--MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) announced today that, it has submitted for Final Acceptance from the TSXV and has closed the non-brokered Private Placement which was previously announced on August 30, 2023. The placement, to accredited investors, raised $1,020,000 by issuance of 14,571,428 units at $0.07 per unit (“Unit”). Each Unit is 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. From January 1, 2026, the Company has the right to call for exercise of the Warrants if the common shares of the Company have closed at or above $0.30 for twenty trading days within a period of thirty consecutive trading days. The Placement was Non-brokered, and no Brokers of Agent’s fees were paid. Insiders subscribed for $630,000 (9,000,000 Units). The Securities issued are subject to a regulatory restriction from trading until four months and one day following the date of Closing.
The Company also announces that, further to the Press Release dated June 19, 2023, Acceptance has been obtained from the TSXV for further amendment to the terms of a total of 17,495,472 Warrants issued in April, May and July 2020, in respect of which the original Expiration Date had been extended in 2022 from December 31, 2022 to December 31, 2023, so that the terms of those Warrants will now provide for an Exercise Price of $0.14 (in place of $0.20) and an Expiration Date of June 30, 2024.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.