Business
Senior Executives to Buy Back Shares of MedX(R) Stock
Chairman and CEO Combine to Buy Back Shares from Estate of Founder MISSISSAUGA, ON, Oct. 8 /CNW/ ...
About this update from Medx Health Corp.
[{"type":"text","content":"\n\n\n\nChairman and CEO Combine to Buy Back Shares from Estate of Founder\n\n\nMISSISSAUGA, ON, Oct. 8 /CNW/ - MedX Health Corp. (TSXV: MDX), a global\nleader in developing drug free, non-invasive therapeutics for tissue repair\nand pain relief, today announced that N. Gary Van Nest, chairman, through a\ncompany associated with him, and Steve Guillen, president and CEO of MedX,\nhave joined in a private transaction to acquire 500,000 common shares of MedX\nat the market price of 0.20 CDN per share, and taken a one year option on an\nadditional 500,000 MedX shares at 0.30 CDN from the beneficiaries of the\nestate of the late Phillip Passy, the founder and former president of MedX.\n\n\nIn addition, the company associated with Mr. Van Nest, and Mr.Guillen\nhave jointly obtained a right of first refusal on the balance of approximately\n3.5 million shares held by the beneficiaries of the estate.\n\n\n"These transactions serve as a material vote of our confidence in the\nfuture direction of MedX, and also will ensure that the majority of shares\noutstanding remain in friendly hands," states Van Nest.\n\n\n"We are in a time of rapid growth and it is important for our key\nexecutives at MedX to maintain control over this growth and ensure a\nsuccessful transition to becoming a leading global development and\ndistribution company of laser and light devices," explained Guillen.\n\n\nAbout MedX Health Corp.\n-----------------------\n\n\nMedX is a leading North American developer and manufacturer of low level\nlaser and light medical devices, including dental, rehabilitation and wound\ncare products. 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 is expanding its distribution network and marketing program globally\nthrough partnerships, while continuing to develop and acquire new dental,\nrehabilitation and wound care products. In particular, MedX plans to\naccelerate the development of a new product aimed at the rapidly-growing wound\ncare market: its "Photobandage", a new technology that allows a wound to be\nbathed i...