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MedX Health Corp. Announces First Quarter 2019 Results and Private Placement

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MISSISSAUGA, Ontario–(BUSINESS WIRE)–MedX Health Corp. (“MedX” or the “Company”) (TSX-V:MDX) announced its
results for the three-months ended March 31, 2019, which are also
available on SEDAR (www.sedar.com).

The Company reported revenue of $184,801 for the three months ended
March 31, 2019, compared with revenue of $226,122 for the three months
ended March 31, 2018. Revenues from SIAscopy of $21,563 were lower than
the 2018 three-month period, and revenue from the Company’s therapeutic
laser line of $163,238 were 13% lower than in the prior year. The
Company reported a loss for the three months ended March 31, 2019 of
$788,101 or $0.01 per share compared with a loss of $672,154, or $0.01
per share for the three months ended March 31, 2018.

“The higher loss for the first quarter of 2019 resulted primarily from
additional investment in our new DermSecure™ telemedicine platform,”
noted Scott Spearn, CEO of MedX, “in addition to non-cash expenses
related to share option grants in 2018. We are still pivoting from
marketing SIAscopy from the sales of a single devices to marketing
SIAscopy as a telemedicine solutions and are confident that launching
DermSecure™ in Canada, the Netherlands, Spain and other major markets in
2019 will provide significant revenue growth as well as deliver the
benefits of shortening wait times, saving lives and lowering costs to
the health care system.”

MedX also announces that on May 23, 2019, it completed the closing of a
private placement, raising $136,000 by issuance of 850,000 Units. Each
Unit, sold at $0.16, 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 $0.25, exercisable for a period of two
years from the date of issue. Following this Closing, MedX has
140,632,651 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
dthompson@medxhealth.com
416-918-9551

Cannabis

One Year of Medical Cannabis in the UK, Data by Grow Biotech

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Photo source: southeusummit.com

 

The 1st of November 2019 will mark the one year anniversary of the legalisation of medical cannabis in the United Kingdom. A year after Charlotte Caldwell’s tireless campaign to obtain life-saving medication for her son Billy catapulted medical cannabis onto the public agenda, the cost of prescriptions has dropped substantially while the number of scripts written has increased, but more needs to be done before it can be more widely offered by the National Health Service (NHS).

The average price of a month’s supply of medical cannabis imported through Logist has dropped from £750 to £550, reducing the average monthly prescription cost by 27%, while the average price per gram has also fallen by 25%. The reduction in cost is a combination of increased volume (meaning the costs associated with importing products is lower per prescription) and the increased availability of different products.

The type of medical specialist consultants writing prescriptions for medical cannabis has also diversified to include pain, oncology and neurology. There has also been a broadening in the delivery method for medical cannabis requested by specialist consultants to include different cannabis oils, pills and flowers, which is largely a result of the greater range of products available. Since February, Logist has imported approximately 1.5kg of flower to the UK.

The vast majority of medical cannabis has made its way to the UK thanks to Logist, a joint-venture formed between specials importer IPS Pharma, and Grow Biotech, the UK’s leading medical cannabis market access specialists.

Timeline of Events

  • 1st November 2018 – New regulations introduced, which allowed for the import and prescription of cannabis-based medicines
  • 14 February 2019 – The first bulk import of medical cannabis in the UK and first patients to receive medication from Logist
  • May 2019 – EU based bio-pharmaceutical company MGC Pharma appoints Logist
  • August 2019 – NICE publish interim report on medical cannabis
  • August 2019 – American medical cannabis giant Columbia Care announces that it will fund and provide medicine for clinical trials in the UK
  • September 2019– Leading Canadian company Aurora appoints IPS Pharma and Grow Biotech as importer and distributor for the UK market
  • September 2019 – Medical cannabis consultant informs Logist that a patient is no longer using opioids to manage their condition following treatment with medical cannabis

Looking forward to the near future, Chief Operating Officer of Grow Biotech, Hari Guliani, said, “Over the next twelve months we expect the UK’s medical community as a whole to take on the challenge of understanding how cannabis might help their patients. We are expecting leading consultants to publish papers on the impact they have seen on their patients, as well as evidence gathered through MHRA-approved trials. This will significantly improve the data available to regulators, policymakers and NICE.”

At present, it is only available on the NHS in extremely limited circumstances and is only obtainable through a prescription written by a specialist consultant in the private sector. NICE (The National Institute of Health Care Excellence) has advised that more clinical trials need to be undertaken in the UK and overall costs of medication need to be reduced before medical cannabis can be prescribed by NHS consultants. However, new medical trials are now underway and prices associated with the import of medical cannabis are falling dramatically, giving hope to the thousands of patients who are still struggling to access life-changing medication.

Another major change which cannot be overlooked is funding for the UK’s young medical cannabis industry. Ben Langley, Chief Executive Officer of Grow Biotech explained that, “We have seen a massive increase in funding for UK businesses operating within the medical cannabis space, especially from North America. In addition to the £5m Grow Biotech has raised over the last two years, there have been notably well received fundraises for Emmac Life Sciences PLC (£11m raised in March 2019) and for Oxford Cannabinoid Therapeutics ($10m in April 2019). This trend is likely to accelerate as European medical cannabis gradually establishes itself as an attractive asset class for global capital and European equity exchanges start to open their doors to cannabis companies.

Both Ben Langley and Hari Guliani are available for comment and interview.

 

SOURCE Grow Biotech

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Cannabis

GNCC Capital, Inc. – Pending Transaction

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GNCC Capital, Inc. (OTC: GNCP) (“The Company” or “GNCC”) advises that the new Board of Directors is in the process of consummating a further transaction in the Cannabis Sector and in South Africa.

Given that this is a related party transaction; they are awaiting ratification from an Independent party.

Upon consummation of this transaction; the new GNCC Directors will actively engage with shareholders. This decision was taken given that this transaction materially affects the size and scope of the Company’s South African Cannabis interests.

We reiterate that both Ms. Allen and Mr. Cox have recognized the need to; and have committed to expend the next two to three weeks in shareholder engagement. This is to ensure that all shareholders and investors become familiar with the Company’s new business operations, opportunities, Licensing and the Cannabis Industry in South Africa.

Forward-Looking Statements:-This press release may contain forward-looking statements. The words “believe,” “expect,” “should,” “intend,” “estimate,” “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company’s current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company’s filings, which are on file with the OTC Markets Group.

SOURCE GNCC Capital, Inc.

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Cannabis

Empower Clinics Provides Corporate Updates Highlighting Triple Digit Patient Growth and Subsidiary Sun Valley Health Launches New Modalities and Patient Services

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EMPOWER CLINICS INC. (CSE: CBDT) (OTC: EPWCF) (Frankfurt 8EC) (“Empower” or the “Company“), a vertically integrated and growth-oriented CBD life sciences company, a multi-state operator of medical health & wellness clinics, a CBD product producer and operator of an extraction facility in Oregon, is pleased to announce it is launching seven new modalities and services for patients in the Sun Valley Health clinics commencing Monday October 14th, 2019.

The Company also has patient visits in corporate clinics increase by triple digits, with September 2019 patients seen increasing by 307% to 1,884 versus September 2018 with 614 patients seen.

“The tremendous year-over-year increase in patient visits is a testament to the operating strengths and patient management demonstrated by our clinic team members, each and every day,” said Steven McAuley, CEO of Empower. “Their passion for patient wellbeing and the use of numerous communication tools ensures world-class service is provided throughout the entire patient journey.”

As part of the Company’s continued expansion of our health & wellness clinic model, we have already set up retail CBD product sales in-clinic, and now we have launched expanded physician based services.

New Modalities and Services

  • Physician’s CBD Enhanced Massage, Acupuncture, or Cupping Sessions
  • CBD-Cannabis-Supplement Consumption & Coaching Consultation
  • Introduction to Alternative Health and Cannabinoid Therapies by a Physician
  • Comprehensive Naturopathic Patient Analysis & Consultation
  • Dietary Antigen Testing, Physician Consultation/Action Plan, & Concierge Blood Draw
  • Neurotransmitter (urine) Profile & Physician Consultation/Action Plan
  • Spectracell Micronutrient Test & Physician Consultation/Action Plan

“By offering our new suite of laboratory testing, alternative health consulting, and CBD therapies we are able to address the needs of our current patients and serve the community outside of cannabis that are seeking alternative health care,” states Dustin Klein, Director & VP Business Development. “Incorporating our new modalities, high quality vitamins, supplements, and CBD products into our network of clinics is a natural progression toward our goal of becoming the nation’s premier alternative healthcare provider.”

Additional UPDATES

  • New Modalities and Patient Services The Company continues to see patient visits in corporate clinics increase by triple digits, with September 2019 patients seen increasing by 307% to 1,884 over July 2018 614 patients seen.

  • Sun Valley Health Franchise Sun Valley Health www.sunvalleyhealth.com has been actively participating in various franchise and cannabis expos in St. LouisChicago and Houston to market the Sun Valley Health franchise program, attracting numerous qualified candidates for available territory locations. The Company has accepted many applications and has provided the Franchise Disclosure Document (FDD) to qualified applicants in anticipation of completing the first initial territory sales.

 

SOURCE Empower Clinics Inc.

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