MedX Health Corp. Announces Closing of Private Placement and Debt Settlements

MedX Health Corp. ("MedX" or the "Company") (TSX VENTURE:MDX) announces that it
has closed on a private placement, as announced on December 20, 2013, to raise
$203,000 by the issuance of 2,030,000 units, comprising 2,030,000 common shares
and 2,030,000 share purchase warrants ("Warrants") at $0.10 per unit. Each
Warrant entitles the holder to purchase one additional common share during the
period expiring December 31, 2014, at $0.20 per share. The securities issued
through the private placement were subscribed for by accredited investors, and
are restricted from trading before May 1, 2014. 


In November, 2013, MedX entered into agreements to settle a total of $1,779,933
of debt owed to certain trade creditors, general creditors and insider
creditors. Under the Debt Settlement Agreements, a total of $179,708 of trade
debt was settled by issuance of 898,812 shares issued at $0.20 per share,
$1,164,620 of debt due to general creditors was settled by issuance of
11,646,204 units at $0.10 per unit, and $435,603 of debt due to insider
creditors was settled by issuance of 1,742,415 shares at $0.25 per share. Each
of the units issued to general creditors was comprised of one fully paid common
share and one-half of a share purchase warrant; each whole warrant from that
issuance is exercisable to purchase one common share at $0.20 per share for the
period to December 31, 2014, and at $0.30 from January 1, 2015 to December 31,
2015. The securities issued pursuant to the Debt Settlement Agreements are
restricted from trading until March 16, 2014. 


Following the foregoing issuance of shares by way of debt settlement and
issuance of shares in the private placement, MedX has 59,744,657 shares
outstanding.  


MedX also announces that Gary VanNest has been appointed Chairman in place of
Steve Guillen, who remains a director of the Company.


About MedX 

MedX is headquartered in Mississauga, Ontario (Toronto), and is a global leader
in the design, manufacturing and distribution of quality low level laser and
light therapy technologies for use in numerous medical settings, including
rehab/chiropractic, dental, wound care, and veterinary medicine, providing
patients with drug free and non-invasive treatment of tissue damage and pain.
MedX laser and light products are FDA approved, Health Canada cleared, and CE
Mark approved for use in North America as well as the European Union. MedX's
products include SIMSYS(TM) and MoleMate(TM), which are approved by Health
Canada, and available to Canadian physicians and dermatologists, are FDA
approved for use in the USA and are currently under review for CE approval for
use in Europe, the UK, and Australia, as an optical biopsy that uses patented
technology featuring a hand-held scanner device designed for clinical use that
utilizes light to view beneath suspicious moles or lesions in a pain free,
non-invasive manner, creating images in real-time for physicians and
dermatologists to evaluate all types of moles or lesions within seconds. For
more information log onto: www.simsys-molemate.com. For a complete profile of
MedX and its products visit www.medxhealth.com. 


This press release does not constitute an offer of any securities for sale. This
press release contains certain forward-looking statements within the meaning of
applicable Canadian securities legislation. These forward-looking statements
involve certain risks and uncertainties that could cause actual results to
differ, including, without limitation, the company's limited operating history
and history of losses, the inability to successfully obtain further funding, the
inability to raise capital on terms acceptable to the company, the inability to
compete effectively in the marketplace, the inability to complete the proposed
acquisition and such other risks that could cause the actual results to differ
materially from those contained in the company's projections or forward-looking
statements. All forward looking statements in this press release are based on
information available to the company as of the date hereof, and the company
undertakes no obligation to update forward-looking statements to reflect events
or circumstances occurring after the date of this press release.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
MedX Health Corp.
Robert von der Porten
President and CEO
905 670 4428
investor@medxhealth.com
Medx Health (TSXV:MDX)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024