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TORONTO, Feb. 20 /CNW/ - Medworxx Solutions Inc. ("Medworxx") (TSXV: MWX) is pleased to announce that it has completed a $410,000 aggregate principal amount private placement of its 14% convertible debentures maturing on February 20, 2011. The convertible debentures are convertible at the option of the holder into units of Medworxx at a conversion price of $0.10 per unit, each unit consisting of one common share and one-half of one warrant, each full warrant entitling the holder to purchase one common share at a price of $0.12 prior to the maturity date.
A finder's fee of $24,375 was paid to an arm's length third party in connection with the private placement.
Medworxx intends to use the net proceeds from the private placement for working capital, and for general corporate purposes. Securities sold under the offering are subject to a statutory four month hold period.
About Medworxx: ---------------
Medworxx, the makers of strategic software platforms that hospitals use to communicate, aggregate, and analyze knowledge, has been capturing the power of hospital knowledge since 2004. Medworxx' products are used by more than 500,000 users at over 280 hospitals across North America. Headquartered in Toronto, Ontario, Medworxx trades on the TSX Venture Exchange under the symbol MWX.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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