MedX Announces Final Closing of Non-brokered Private Placement


MISSISSAUGA, Ontario — 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 warrants (“Agent’s Warrant(s)”). No commissions were paid and no Agent’s Warrants were issued in respect of any of the $2,400,000 Series IV Notes issued on surrender of Series I Notes. Each Agent’s Warrant, which is non-transferable, entitles the holder to acquire, at the price of CAD$0.10, a unit, comprised of One (1) fully paid Common Share and one-half (1/2) of a non-transferable agent’s share purchase warrant; each whole agent’s share purchase warrant (“Agent’s Share Purchase Warrant”), will entitle the holder to acquire one additional Common Share at the price of CAD$0.125. The Agent’s Warrants and any Agent’s Share Purchase Warrants that may be issued pursuant to exercise of an Agent’s Warrant, if not exercised, will expire on the Maturity Date. Funds raised in this Placement were allocated as to $2,400,000 in replacement of an equal value of Series I Notes, and the balance of funds raised have been allocated towards continuing development of the Company’s leading edge SIAscopy® on DermSecure® telemedicine platform, building out the launch of its technology into the occupational health marketplace, and general corporate purposes.



Source link

  • Related Posts

    The Vatican has said a lot about artificial intelligence. A primer ahead of the pope’s encyclical

    VATICAN CITY (AP) — The Vatican is gearing up for the release of Pope Leo XIV’s first encyclical, a document expected to address artificial intelligence and insist on an ethics-based…

    'Facial recognition': Video shows new option for faster boarding at YVR

    The innovative technology allows you to keep your travel documents stored away. Source link

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Review: Good Omens finale sticks the landing

    Review: Good Omens finale sticks the landing

    Julia Fox Talks Stoop Sale, Plastic Surgery, Looksmaxxing and Shoplifting

    Julia Fox Talks Stoop Sale, Plastic Surgery, Looksmaxxing and Shoplifting

    It’s Been a Wild Week in British Politics. What Happens Next?

    It’s Been a Wild Week in British Politics. What Happens Next?

    Quebec reimbursing farmers for fuel tax, says measure will help competitiveness

    Quebec reimbursing farmers for fuel tax, says measure will help competitiveness

    The Vatican has said a lot about artificial intelligence. A primer ahead of the pope’s encyclical

    The Vatican has said a lot about artificial intelligence. A primer ahead of the pope’s encyclical

    Stafford byelection tipped to swing towards LNP as danger looms for Steven Miles’ leadership of Queensland Labor | Australia news

    Stafford byelection tipped to swing towards LNP as danger looms for Steven Miles’ leadership of Queensland Labor | Australia news