Medworxx Announces Private Placement of Convertible Debenture

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[{"type":"text","content":"\n\n\n\nTORONTO, Feb. 2 /CNW/ - Medworxx Solutions Inc. ("Medworxx") (TSXV: MWX)\nis pleased to announce that it intends to sell, on a private placement basis,\nup to an aggregate principal amount of $400,000 of 14% convertible debentures\nmaturing February 2011. The convertible debentures are convertible at the\noption of the holder into units of Medworxx at a conversion price of $0.10 per\nunit, each unit consisting of one common share and one-half of one warrant,\neach full warrant entitling the holder to purchase one common share at a price\nof $0.12 prior to the maturity date. Finders fees in the amount of 7.5% of the\nprincipal amount raised will be paid to arm's length third parties. The\noffering is subject to regulatory approval as well as the satisfaction of\nother customary conditions, and securities sold under the offering will be\nsubject to a statutory four month hold period.\n\n\nMedworxx intends to use the net proceeds from the private placement for\nworking capital, and for general corporate purposes. Closing of the offering\nis anticipated as soon as practicable.\n\n\nAbout Medworxx:\n---------------\n\n\nMedworxx, the makers of strategic software platforms that hospitals use\nto communicate, aggregate, and analyze knowledge, has been capturing the power\nof hospital knowledge since 2004. Medworxx' products are used by approximately\n500,000 users at over 280 hospitals across North America. Headquartered in\nToronto, Ontario, Medworxx trades on the TSX Venture Exchange under the symbol\nMWX.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\n\nCautionary Note Regarding Forward-Looking Statements\n----------------------------------------------------\n\n\nThis press release contains forward-looking statements. Often, but not\nalways, forward-looking statements can be identified by the use of words such\nas "plans", "expects" or "does not expect", "is expected", "estimates",\n"intends", "anticipates" or "does not anticipate", or "believes", or\nvariations of such words and phrases or state that certain actions, events or\nresults "may", "could", "would", "might" or "will" be taken, occur or be\nachieved. Forwa...

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