MedX Announces Final Closing of Non-Brokered Private Placement

Executive Summary

• MedX Health Corp. completed the final closings of its non‑brokered private placement, issuing a total of 26,139,999 Units at $0.075 per Unit and raising $1,433,000 in cash.
• The placement included participation by two insiders who purchased 21,806,666 Units for $1,635,500, and agents who received commissions and warrants.
• Proceeds are earmarked to advance the company’s SIAscopy® on DermSecure® telemedicine platform, expand into the occupational health market, and fund general corporate purposes.

Key Details

• Units Issued: 26,139,999 Units (each Unit = 1 common share + ½ Share Purchase Warrant).
• Pricing: $0.075 per Unit; total gross proceeds of $1,433,000 from public investors plus $1,635,500 from insiders.
• Warrant Terms: Each whole warrant exercisable for one additional common share at $0.10 within one year of issuance.
• Insider Participation: Two insiders purchased 21,806,666 Units ($1,635,500). Exemptions relied on MI 61‑101 criteria (fair market value ≤ 25% of market cap; other conditions met).
• Agent Compensation: Agents received $3,000 cash commissions (8% of gross proceeds from their subscriptions) and 40,000 Agent’s Warrants (8% of those subscriptions).
• Agent’s Warrants: Non‑transferable; each entitles the holder to acquire one Unit at CAD $0.09 (Unit = 1 common share + ½ non‑transferable Share Purchase Warrant); underlying Share Purchase Warrants allow purchase of an additional common share at CAD $0.10.
• Warrant Expiration: Agent’s Warrants and any resulting Share Purchase Warrants expire one year after issuance if not exercised.
• Regulatory Hold Period: All securities subject to a four‑month‑plus‑one‑day hold period from the date of issuance.
• Use of Proceeds: Development of SIAscopy® technology on DermSecure®, launch into occupational health sector, and general corporate purposes.

Notable Quotes

(No direct quotes were provided in the release.)