MISSISSAUGA, Ontario, September 09, 2022--(BUSINESS WIRE)--MedX Health Corp. ("MedX" or the "Company") (TSXV: MDX) is pleased to announce that, in connection with the Private Placement (the "Financing"), and further to the $250,000 first tranche closing of which was announced in its Press Release dated July 14, 2022, and its Press Release dated August 11, 2022 announcing application for extension of Price Protection, it has closed on further subscriptions for $350,000, for issuance of seven more Convertible Notes. No Cash Commissions or Agent’s Warrants were paid or issued in relation to those seven Convertible Notes. Securities issued on are subject to a four month restriction from trading in accordance with relevant regulatory and stock exchange policies. The Company also has further subscriptions in hand for $500,000 which are in process of being funded, and additional subscriptions are anticipated.
The Company also announces that it has applied to the TSX Venture Exchange for a final extension of a further 30 days price protection in order to complete subscriptions for up to a total of $4 million. Further Closings 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.
The Financing is a non-brokered Private Placement to accredited investors of up to $4 million by issuance of up to 80 Convertible Loan Notes, each with a face value of $50,000 ("Convertible Notes"), the terms of which are fully described in the Company’s Press Release dated July 14, 2022.
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 suspicious moles and lesions up to 2mm beneath in a pain-free, non-invasive manner. Its patented software then creates 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. For more information, visit www.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.
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Bill Mitoulas, Investor Relations
MedX Health Corp.