MedX Health completes $527,500 closing of placement

Executive Summary

• MedX Health Corp. completed the initial closing of its non‑brokered private placement, issuing 7,033,000 units and raising $527,500 in cash.
• The company plans to issue up to a total of 33,333,334 units at $0.075 per unit, targeting maximum gross proceeds of $2.5 million.
• The ultimate closing date for the placement has been proposed to be extended to November 7, 2025, pending TSX‑V acceptance; funds will be used to advance the SIAscopy DermSecure platform and general corporate purposes.

Key Details

• Initial Closing: 7,033,000 units issued; cash proceeds of $527,500 received. No commissions or agent’s warrants were issued for this closing.
• Unit Composition: Each unit = one fully paid common share + ½ share purchase warrant (full warrant exercisable at $0.10 per share within one year).
• Maximum Offering Size: Up to 33,333,334 units at $0.075 per unit → up to $2.5 million gross proceeds.
• Agent Compensation (Future Closings): Qualified agents receive cash commission equal to 8% of gross proceeds from subscriptions they introduce; agents also receive agent’s warrants equal to 8% of those subscriptions.
• Agent’s Warrants: Non‑transferable, price $0.09 per unit (one common share + ½ non‑transferable agent’s warrant); full agent’s warrant exercisable for an additional common share at $0.10; expires one year after issuance.
• Regulatory Hold Period: Securities subject to a four‑month‑plus‑one‑day hold period from date of issuance.
• Proposed Extension: Ultimate closing date sought to be extended to 7 Nov 2025, contingent on TSX‑V acceptance; conditional acceptance already received but full amount closing delayed.
• Use of Proceeds: Development of SIAscopy technology on DermSecure telemedicine platform, expansion into occupational health market, and general corporate purposes.

Notable Quotes

(No direct quotes were provided in the release.)