MISSISSAUGA, Ontario – MedX Health Corp. (“MedX“Or the”Business”) (TSX-V: MDX) announces that, subject to the TSX-V Acceptance, it has entered into an agreement to redeem an existing $ 500,000 secured loan through a Private Placement without intermediaries of 10 Convertible Negotiable Obligations, each with a $ 50,000 face value (“Convertible Notes”) to the same accredited investor. The Convertible Notes, which have terms similar to the Notes issued by the Company in February 2021, bear interest of 6% per annum, payable quarterly, and will expire on December 31, 2023 (the “Maturity Date”). Convertible Notes may be converted, at the option of the Holder, into units at $ 0.14 per unit (“Unit”) at any time until the Maturity Date. Each Unit will be made up of One (1) fully paid Common Share and half (1/2) of a Share Purchase Guarantee. Each full Share Purchase Warrant will be exercisable to purchase One (1) additional Common Share at the price of $ 0.20, exercisable for a period that expires on the Expiration Date. Convertible notes and any underlying security are subject to trading restrictions for a period of 4 months and one day from the date of issue. No commissions or agent fees are paid on this transaction. The closing of the placement will be subject to the receipt of all regulatory approvals or acceptances and the relevant Stock Market.
MedX, based in Mississauga, Ontario, is a leading medical device and software company focused on skin health with its SIAscopy® telemedicine platform on DermSecure®, using its SIAscopy® technology. SIAscopy® is also integrated into SIAMETRICS®, a well-regarded research system used to evaluate the effectiveness of treatment for a variety of skin conditions, including burns. The company’s SIAscope® and other devices are manufactured in its ISO 13485 certified facility. The SIAscope® is a handheld device that uses proprietary technology that uses light and its remission to see up to 2mm below suspicious moles and lesions of a painless and non-invasive way, with the company’s software creating real-time images for doctors and dermatologists to evaluate all types of moles or lesions in seconds. These products are approved by Health Canada, FDA, TGA, and CE for use in Canada, the US, Australia, New Zealand, the European Union, Turkey, and Brazil. DermSecure® complies with all relevant privacy, security and regulatory requirements in Canada, the US, Brazil and the EU. MedX also designs, manufactures and distributes quality photobiomodulation dental and therapeutic lasers to provide non-invasive and drug-free treatment of tissue damage and pain. www.medxhealth.com.
This press release does not constitute an offer of securities for sale. This press release contains certain forward-looking statements within the meaning of applicable Canadian securities law. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, but not limited to, the company’s limited operating history and history of losses, the inability to successfully raise more funds, the inability to raise capital in terms acceptable to the company, the inability to compete effectively in the market, the inability to complete the proposed acquisition and other risks that could cause actual results to differ materially from those contained in the company’s forward-looking statements or projections. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company assumes no obligation to update the forward-looking statements to reflect events or circumstances that occur after the date of this release. press.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Rob von der Porten, Chairman and Acting CEO
MedX Health Corp.
Bill Mitoulas, Investor Relations
MedX Health Corp.