Le Lézard
Classified in: Health, Science and technology
Subjects: Funding, Filing, Bond Issue

MedX Health Applies for Further Extension of Price Protection for Private Placement Convertible Loan Note Financing


MedX Health Corp. ("MedX" or the "Company") (TSXV: MDX) has announced that, in connection with the Private Placement ( the "Financing") originally announced in its press release dated March 1, 2022, and the first Closing of $1 million of the Financing announced in its press release dated March 22, 2022, and the extension of Price Protection announced in its press release dated April 13, 2022, it has applied to the TSX Venture Exchange for a further, and Final, extension of 30 days price protection in order to complete subscriptions for up to a further $3 million. Closing of further subscriptions pursuant to the Placement 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 Convertible Notes will bear interest at 8% per year, payable Half-yearly, and will mature on December 31, 2026 (the "Maturity Date"). The Convertible Notes may be converted, at the option of the Holder, into units at $0.10 per unit ("Unit") at any time until the Maturity Date. Each Unit will be comprised of One (1) fully paid Common Share and One-half (1/2) of a Share Purchase Warrant. Each whole Share Purchase Warrant will be exercisable to purchase One (1) further Common Share at the price of $0.15, exercisable for a period expiring on the Maturity Date. Additionally, the Company will have the right to force redemption of any Convertible Note(s) then outstanding, on the date that is thirty days after the date of the notice ("Redemption Date"), exercisable at any time after January 1, 2025, and provided that the Company's common shares have closed at a price of $0.30 or above for thirty consecutive trading days immediately preceding the date of the Notice exercising the right, subject to the right of the Holder(s) of the Convertible Note(s) to exercise the Conversion Right prior to the Redemption Date.

Qualified Agents may receive commissions in respect of subscriptions introduced by them by way of cash equal to 8% of funds so introduced, and issuance of agent's warrants ("Agent's Warrant(s)") calculated by reference to 8% of the funds from subscribers introduced by such Agent. Each Agent's Warrant, which is non-transferable, will be exercisable at the price of $0.09 to acquire a unit comprised of one common share and one-half (1/2) of a non-transferable Agent's share purchase warrant. Each whole Agent's share purchase Warrant will be exercisable to purchase one common share at the price of $0.18. The Agent's Warrants, and any underlying Agent's share purchase warrants, will expire, if unexercised, on the date that is two years subsequent to the date of issue of the original Agent's Warrant(s).

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.


These press releases may also interest you

at 04:33
Under the theme of "Asia and the World: Common Challenges, Shared Responsibilities," the Boao Forum for Asia (BFA) Annual Conference 2024 was held in Hainan, China on March 26th. M&G has been the forum's official stationery supplier since 2005. As...

at 04:29
Gausium's commercial cleaning robots, the Scrubber 50 M series models (50 MR and 50 MD) and the Phantas S1 Pro M, were recently awarded the North American cTUVus certificate by TÜV Rheinland at the China Clean Expo (CCE) in Shanghai. Additionally,...

at 04:28
At the recently concluded 17th KEY Expo in Rimini, Italy, attendees were impressed by Slenergy's innovative products and robust service infrastructure, with European teams of service engineers based in Germany, Spain and Italy. Notably, the company's...

at 04:19
In the news release, SEMIFIVE Starts Mass Production of its 14nm AI Inference SoC Platform based Product, issued 27-Mar-2024 by SEMIFIVE over PR Newswire, we are advised by the company that the sixth paragraph, first sentence, should read "'AI...

at 04:10
Storytel's Annual Report and Sustainability Report 2023 is now published and available as a downloadable PDF document on our website.  FNCA Sweden AB is the Company's Certified Adviser. For more information, please contact:Mattias Frithiof, Head of...

at 04:00
Yukon Group, Europe's leading thermal imaging and night vision company, has launched the world's first upgradable thermal monocular for civilian use. The Pulsar Telos LRF XP50 is set to become an indispensable tool for hunters, explorers and rescuers...



News published on and distributed by: