MedX announces proposed Non-Brokered Private Placement to raise up to $2,500,000 and Stock Option Grants

MISSISSAUGA, Ontario--(BUSINESS WIRE)--MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) is pleased to announce that it is proposing to raise up to $2,500,000 by way of a Non-Brokered Private Placement of up to 35,714,858 Units at $0.07 per Unit (“Unit”). Each Unit will be comprised of One (1) fully paid common share and One (1) Share Purchase Warrant (“Warrant(s)”), exercisable to purchase One (1) further Common Share at the price of $0.09, during the period of one year commencing on the date of issue. 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. It is anticipated that certain Insiders may participate in this Placement, though to not more than 25% of the total funds raised. Closing of the Placement will be subject to all relevant TSXV or other approvals and compliance with all applicable policies. Qualified agents will receive a cash commission equal to 8% of the gross proceeds received by the Company from the sale of the Units to subscribers introduced by such agent(s) and agent’s warrants (“Agent’s Warrant(s)”) equal to 8% of subscriptions introduced by such agent(s). Each Agent’s Warrant, which will be non-transferable, will entitle the holder to acquire, at the price of CAD$0.07, a unit, comprised of One (1) fully paid Common Share and one (1) non-transferable share purchase warrant (“Agent’s Share Purchase Warrant”), entitling the holder to acquire one additional Common Share at the price of CAD$0.09. The Agent’s Warrants and any Agent’s Share Purchase Warrants that may be issued pursuant to exercise of an Agent’s Warrant, if not exercised, will expire one year following the date of issuance.

The Company also announces that a total of 9,800,000 stock options have been granted pursuant to the Company’s Incentive Stock Option Plan. Grants have been made to Directors (750,000 options), Officers (1,000,000 options) and employees and consultants (8,050,000 options). The options are all exercisable at the price of $0.10 per share, valid for a period of five years and vest immediately, with the exception of 750,000 options granted to a consultant, which will not vest until December 31, 2025. The Company notes that a total of 7,120,000 previously granted stock options expired unexercised or were forfeited since January 1, 2024. At this time there is a total of 30,000,000 options available for grant under the Company’s Incentive Stock Option Plan, of which a total of 22,500,000 (including the most recent grants) are currently subject to grants, at a weighted average exercise price of $0.1024, and 7,500,000 remain available for grant under the Plan.

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.