TORONTO, July 10 /CNW/ - Medworxx Solutions Inc. ("Medworxx")(TSXV: MWX) is pleased to announce the closing of a non-brokered private placement of 1,250,332 units at $0.17 per unit for aggregate gross proceeds of up to $212,480 (the "Private Placement"). Each unit is comprised of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one Medworxx common share at $0.26 for 24 months.
Medworxx intends to use the net proceeds from the Private Placement for general working capital purposes.
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 200,000 users at over 150 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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medworxx to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, such as costs of sales, general economic conditions, the success of marketing and competition from competing suppliers and businesses. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
%SEDAR: 00024567E