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MedX Announces Final Closing of Non-brokered Private Placement
MISSISSAUGA, Ontario, May 15, 2026--MedX Health Corp. ("MedX" or the "Company") (TSX-V: MDX) is pleased to announce that, further to its Press Release dated April 15, 2026, when it announced application for an extension of time within which to effect further closings of the Non-brokered Private Placement to accredited investors of Series IV Convertible Loan Notes ("Series IV Notes") originally announced in its Press Release dated February 2, 2026, and the First Closing which was announced in its
About this update from Medx Health Corp.
MISSISSAUGA, Ontario, May 15, 2026--(BUSINESS WIRE)--MedX Health Corp. ("MedX" or the "Company") (TSX-V: MDX) is pleased to announce that, further to its Press Release dated April 15, 2026, when it announced application for an extension of time within which to effect further closings of the Non-brokered Private Placement to accredited investors of Series IV Convertible Loan Notes ("Series IV Notes") originally announced in its Press Release dated February 2, 2026, and the First Closing which was announced in its Press Release of February 27, 2026, it has now finally closed on the Private Placement of Series IV Convertible Loan Notes ("Series IV Notes"). The Initial Closing, effective February 27, 2026, comprised the issuance of $2,700,000 of Series IV Notes, of which $2,400,000 was settled by Holders of Series I Convertible Loan Notes ("Series I Notes") agreeing to surrender their Series I Notes by way of subscription for Series IV Notes, with the balance $300,000 coming from new subscriptions. Further to that Initial Closing, subscriptions for a further $100,000 have been closed, so that a total of $2,800,000 in Series IV Notes have been issued. The Series IV Notes bear interest at 6% per year, payable Quarterly, and mature on December 31, 2028 (the "Maturity Date"). The Series IV Notes may be converted, at the option of the Holder, into units at $0.10 per unit ("Unit") at any time until the Maturity Date. Each Unit will be comprised of One (1) fully paid Common Share and One-half (1/2) of a Share Purchase Warrant. Each whole Share Purchase Warrant will be exercisable to purchase One (1) further Common Share at the price of $0.125, exercisable for a period expiring on the Maturity Date. As previously anticipated, certain Insiders participated in this Placement. The Company relies on exemptions from formal valuation and minority shareholder approval requirements set out in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions as (i) the fair market value of the proposed placement to the Insiders does not exceed 25% of the market capitalization of the Company and (ii) the conditions in section 5.7(1)(a), section 5.7(1)(b) and section 5.7(1)(e) of MI 61-101 are met. Qualified agents received total cash commissions of $6,000 and 60,000 agent’s war...