Business
MedX(R) Health Corp. Announces Private Placement
Proceeds to augment recent public offering, fund growth program. MISSISSAUGA, ON, May 13 /CNW/ - ...
About this update from Medx Health Corp.
[{"type":"text","content":"\n\n\n\nProceeds to augment recent public offering, fund growth program.\n\n\nMISSISSAUGA, ON, May 13 /CNW/ - MedX Health Corp. (TSXV: MDX) ("MedX" or\nthe "Company") today announced a private placement of Units to raise up to\n$2,000,000 at a price to be determined in the context of the market. Each Unit\nshall consist of one common share and one-half share purchase warrant. Each\nwarrant shall be exercisable, for 24 months following closing, at a price and\non terms to be determined in the context of the market. Closing is expected to\ntake place on or about June 9, 2008.\n\n\nProceeds of the placement will augment the proceeds from the Company's\nrecent public offering. The combined proceeds will be used to expand MedX's\ndistribution network; support its marketing program; continue development of\nnew dental, rehabilitation and wound care products; undertake research and\ndevelopment for wound care products; to partially repay term debt; and for\nworking capital purposes.\n\n\nResearch Capital Corporation has been retained as agent for the\nplacement, and will be paid cash fees and warrants for its services.\n\n\n"These additional funds will further accelerate our product development\nand international marketing program," said Steve Guillen, President & Director\nof MedX.\n\n\nAbout MedX Health Corp.\n\n\nMedX is a leading North American developer, manufacturer and distributor\nof phototherapy medical devices, including dental, rehabilitation and\nwound-care products. MedX products are U.S. FDA cleared and Health Canada\nlicensed and are used by practitioners in clinics, academic facilities, and\nhospitals, as well as by professional athletes and sports teams, to improve\nquality of life through accelerating healing and reducing pain. MedX plans to\naccelerate the development of a new product aimed at the rapidly-growing wound\ncare market: its "Photobandage", a bandage technology that allows a wound to\nbe bathed in light, designed to enhance the healing process. The Company\nintends to license this new technology to one or more major wound care\ncompanies for further development, marketing and sales.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this press release.\n\n\nThis press release contains "forward-looking informati...