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MISSISSAUGA, Ontario–(BUSINESS WIRE)–MedX Health Corp.:
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES
MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX)
is pleased to announce that it has obtained Conditional Approval from
the TSX Venture Exchange for a non-brokered Private Placement to
accredited investors of up to 15,625,000 units at $0.16 per unit
(“Unit”), to raise up to $2,500.000. 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
$0.25, exercisable for a period of two years from the date of issue.
Closing of the Placement, which will take place in tranches, will be
subject to receipt of subscriptions 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 $0.16 per
Unit, at any time during the period of two years following the Closing.
The first Closing of this private placement has taken place on April 26,
2019, to raise $282,600 by issuance of 1,766,250 Units. In connection
with the first Closing, a cash commission of $12,960 was paid and 79,350
Agent’s Warrants were issued.
Following this Closing, MedX has 139,782,651 common shares issued and
outstanding.
About MedX
MedX, headquartered in Mississauga, Ontario, is a leading medical device
and software company focused on skin cancer with its 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 Health Canada, FDA (US), ARTG and CE cleared for use
in Canada, the US, Australia, New Zealand, the European Union and
Turkey. MedX also designs, manufactures and distributes quality
photobiomodulation therapeutic and dental lasers to provide drug-free
and non-invasive treatment of tissue damage and pain. www.medxhealth.com.
This press release does not constitute an offer of any securities for
sale. This press release contains certain forward-looking statements
within the meaning of applicable Canadian securities legislation. These
forward-looking statements involve certain risks and uncertainties that
could cause actual results to differ, including, without limitation, the
company’s limited operating history and history of losses, the inability
to successfully obtain further funding, the inability to raise capital
on terms acceptable to the company, the inability to compete effectively
in the marketplace, the inability to complete the proposed acquisition
and such other risks that could cause the actual results to differ
materially from those contained in the company’s projections or
forward-looking statements. All forward looking statements in this press
release are based on information available to the company as of the date
hereof, and the company undertakes no obligation to update
forward-looking statements to reflect events or circumstances occurring
after the date of this press release.
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 press release.
Contacts
Scott Spearn, President and CEO
MedX Health Corp
905-670-4428
ext 229
Media Relations
Deborah Thompson
[email protected]
416-918-9551
