Business
MedX Health Corporation Announces Annual General & Special Meeting and Plans to Issue Shares
MedX Health Corporation Announces Annual General & Special Meeting and Plans to Issue Shares
About this update from Medx Health Corp.
[{"type":"text","content":"\n\n\n\n Jul. 27, 2010 (Canada NewsWire Group) -- \n \n \n Shares for debt and a private placement\n\nMISSISSAUGA, ON, July 27 /CNW/ - MedX Health Corp., (TSXV.MDX) a global leader in drug free, non-invasive low level laser and light therapy for tissue repair and pain relief today announced plans to issue shares in order to retire certain debt obligations, and in addition in a second transaction, issue shares as part of a capital raising private placement. MedX plans to retire up to $1.5M in debt through common shares issued at a price of $0.10, and plans to raise $2M via common shares priced at $0.10 via a non-brokered private placement. The number of fully diluted MedX Corp. shares outstanding is now 28.4M.\nMedX also announced it will be holding its annual general and special meeting on August 31, 2010 at 4:00 p.m. at The National Club, located at 303 Bay St., Toronto.\nThe proceeds from the financing will be used to expand MedX's distribution network; support its marketing programs; continue development of new dental, rehabilitation and wound care products, and pending recently announced discussions on July 26th, continue development of the potential new cell phone with ECG capabilities; undertake research and development for wound care products; and for working capital purposes.\n"The combination of significantly reducing our debt via shares while raising additional funds will further accelerate our efforts within our existing markets, including our rapidly expanding international marketing program," said Steve Guillen, President & Director of MedX.\nDetails of these proposed transactions will be included in MedX's management information circular to be issued August 10, 2010.\n\nAbout MedX Health Corp.\n\nMedX is a leading North American developer and manufacturer of low level laser and light medical devices for the drug free and non-invasive treatment of tissue damage and pain in numerous medical settings including dental, rehabilitation and wound care. MedX is the world's only company focusing on developing and delivering a broad cross-section of technologies and products involved in healing using light therapy. MedX is committed to advocating for, the bringing of non-invasive, drug-free healing nature of light to people seeking relief from pain and other physical ailments.\nMedX's strategy is to build upon its ...