MedX announces Initial Closing of Non-Brokered Private Placement

MISSISSAUGA, Ontario--(BUSINESS WIRE)--MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) is pleased to announce that it has completed the Initial Closing of the Non-brokered Private Placement to accredited investors announced in its Press Release dated February 25, 2025. The Initial Closing comprised the issuance of 13,500,000 Units (as described below) and raised cash proceeds of $945,000. A cash commission of $7,280 was paid and 104,000 Agent’s Warrants (as described below) were issued in respect of the Initial Closing. Securities issued are subject to a regulatory “hold” period of four months and one day from the date of issuance. Further Closings are anticipated following this Initial Closing, subject to relevant regulatory acceptance. Under this Non-Brokered Private Placement, the Company intends issue of up to a maximum of 35,714,858 Units at $0.07 per Unit (“Unit”) to raise a Maximum amount of $2,500,000. Each Unit is 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 issuance. Further Closing(s) of the Placement will be subject to receipt of further subscriptions 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, subject to compliance with relevant regulatory provisions, certain Insiders may participate in this Placement at a subsequent Closing, though to not more than 25% of the total funds raised. 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.

Funds raised in this Placement will be directed towards continuing development of the Company’s leading edge SIAscopy® on DermSecure® telemedicine platform, building out the launch of its technology into the occupational health marketplace, and general corporate purposes.

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.