Business
MedX(R) Health Corp. Closes Non-brokered Private Placement
Proceeds to expand commercialization plans MISSISSAUGA, ON, Aug. 5 /CNW/ - MedX Health Corp. (TSX...
About this update from Medx Health Corp.
[{"type":"text","content":"\n\n\n\nProceeds to expand commercialization plans\n\n\nMISSISSAUGA, ON, Aug. 5 /CNW/ - MedX Health Corp. (TSXV: MDX) ("MedX" or\nthe "Company") announced today the closing of a non-brokered private placement\nof 4,300,000 common shares at a price of $0.25, for gross proceeds of\nCAD$1,075,000. Of this, 2,000,000 shares were issued upon conversion of\ncertain third-party debt. The proceeds from the financing will be applied to\nachieve MedX's goal of expanding its commercialization plans.\n\n\nThe securities sold under the Private Placement are subject to\nrestrictions on resale for a period of four months from the date of closing.\n\n\n"We are well on our way to efficiently closing out this current round of\nfinancing as we continue to grow our product line and business opportunities,"\nsaid Steve Guillen, president & chief executive officer. "Our commitment to\nbecome a global leader in low level laser therapy remains focused on expanding\nour markets internationally via new distribution channels and novel product\ntechnology. This financing puts us one step closer to that goal," said Mr.\nGuillen.\n\n\nAbout MedX Health Corp.\n\n\nMedX is a leading North American developer and manufacturer of low-level\nlaser medical devices, including dental, rehabilitation and wound care\nproducts. MedX is the world's only company focusing on developing and\ndelivering a broad cross-section of technologies and products involved in\nhealing using light therapy. MedX is committed to advocating for and bringing\nthe non-invasive, drug-free healing nature of light to people seeking relief\nfrom pain and other physical ailments.\n\n\nMedX's strategy is to build upon its success in bringing relief of\nsymptoms in a non-pharmacologic manner in the rehabilitation market through\nkey partnerships, acquisitions, strong patent protection as well as developing\nand commercializing advanced products in the dental and wound-care markets\nthat will position the company to increase revenue. In addition, 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 majo...