Business
MedX Announces Proposed Non-Brokered Private Placement to Raise up to $2,500,000 and Stock Option Grants
MedX Health Corp. (“ MedX ” or the “ Company ”) (TSX-V: M...
About this update from Medx Health Corp.
[{"type":"text","content":"MedX Announces Proposed Non-Brokered Private Placement to Raise up to $2,500,000 and Stock Option Grants\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n MedX Health Corp.\n \n (“\n \n MedX\n \n ” or the “\n \n Company\n \n ”) (TSX-V:\n \n MDX\n \n ) is pleased to announce that it is proposing to raise up to $2,500,000 by way of a Non-Brokered Private Placement of up to 33,333,334 Units at $0.075 per Unit (“Unit”). 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 Warrants (“\n \n Warrant\n \n (\n \n s\n \n )”) will be exercisable to purchase One (1) further Common Share at the price of $0.10, during the period of one year commencing on the date of issue. Closing of the Placement, which may take place in tranches, will be subject to receipt of subscriptions for a minimum of $500,000 and a number of other conditions, including without limitation the receipt of all relevant regulatory and Stock Exchange approvals or acceptances. Funds raised on this placement will be directed towards continuing development of the Company’s leading edge SIAscopy\n \n ®\n \n on DermSecure\n \n ®\n \n telemedicine platform, building out the launch of its technology into the occupational health marketplace, and general corporate purposes. It is anticipated that certain Insiders may participate in this Placement. Closing of the Placement will be subject to all relevant TSXV or other approvals and compliance with all applicable policies. Qualified agents will receive a cash commission equal to 8% of the gross proceeds received by the Company from the sale of the Units to subscribers introduced by such agent(s) and agent’s warrants (“\n \n Agent’s Warrant(s)\n \n ”) equal to 8% of subscriptions introduced by such agent(s). Each Agent’s Warrant, which will be non-transferable, will entitle the holder to acquire, at the price of CAD$0.09, a unit, comprised of One (1) fully paid Common Share and one-half (1/2) of a non-transferable agent’s share purchase warrant; each whole agent’s share purchase warrant (“\n \n Agent’s Share Purchase Warrant\n \n ”), will entitle the holder to acquire one additional...