Business
MedX Health Corp. Plans Private Placement To Raise up to $1,500,000 And Significant Debt Settlement
MISSISSAUGA, ON, Sept. 19, 2012 /CNW/ - MedX Health Corp. ( TSXV - MDX ) announces that i...
About this update from Medx Health Corp.
[{"type":"text","content":"\n\n\n\n\n\nMISSISSAUGA, ON, Sept. 19, 2012 /CNW/ - MedX Health Corp. (TSXV - MDX) announces that it is planning a private placement, to accredited\n investors only, of up to 15,000,000 common shares at $0.10 per share,\n to raise up to a maximum of $1,500,000, subject to relevant regulatory\n and other consents and approvals.  The funds anticipated to be raised\n by this private placement will be allocated towards expansion of the\n marketing of its SIMSYS™ and MoleMate™ product lines, development of\n new marketing initiatives for existing product lines and acquisition of\n new product-line opportunities and general corporate expenses.\n\n\nDuring the past six months the Company has been able to negotiate\n significant debt settlement arrangements with certain insiders, and at\n the forthcoming Annual and Special Meeting scheduled for October 4,\n 2012, shareholders will be asked to approve a debt settlement of\n $1,313,031 in consideration of issuance of 3,209,633 common shares (an\n average price of $0.41 per share) for which approval from the TSXV has\n already been obtained conditional, among other things, on an approval\n vote by a majority of disinterested shareholders.  A further round of\n settlement agreements is presently being negotiated to settle up to\n $1,055,000 by issuance of up to 4,220,000 shares (a price of $0.25 per\n share), subject to all relevant regulatory and other approvals.  Any\n shares issued pursuant to such debt settlements will be subject to a\n hold period of four months and one day from the date of issuance.\n\n\nPrior to any of the foregoing share issuances, the Company presently has\n 36,341,513 common shares issued and outstanding.\n\n\nAbout MedX Health Corp.\n\n\nMedX is a twelve (12) year old Canadian company, headquartered in\n Mississauga, Ontario (Toronto), and is a global leader in the design,\n manufacturing and distribution of quality low level laser and light\n therapy technologies for use in numerous medical settings, including\n rehab/chiropractic, dental, wound care, and veterinary medicine,\n providing patients with drug free and non-invasive treatment of tissue\n damage and pain. MedX laser and light products are FDA approved, Health\n Canada cleared, and CE Mark approved for use in North America as well\n as the European Union. MedX Health acquir...