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 35,714,858 Units at $0.07 per Unit (“Unit”). Each Unit will be comprised of One (1) fully paid common share and One (1) Share Purchase Warrant (“\n \n Warrant\n \n (\n \n s\n \n )”), exercisable to purchase One (1) further Common Share at the price of $0.09, 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. It is anticipated that certain Insiders may participate in this Placement, though to not more than 25% of the total funds raised. 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$0.07, a unit, comprised of One (1) fully paid Common Share and one (1) non-transferable share purchase warrant (“\n \n Agent’s Share Purchase Warrant\n \n ”), entitling the holder to acquire one additional Common Share at the price of CAD$0.09. The Agent’s Warrants and any Agent’s Share Purchase Warrants that may be issued pursuant to exercise of an Agent’s Warrant, if not exercised, will expire one year following the date of issuance.\n \n\n The Company also announces that a total of 9,800,000 stock options have been granted pursuant to the Company’s Incentive St...