MedX Announces proposed Non-Brokered Private Placement to raise up to $1,500,000 and intention to seek Acceptance for Amendment to Warrants

MISSISSAUGA, Ontario--(BUSINESS WIRE)-- MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) is pleased to announce that it is proposing to raise up to $1,500,000 by way of a Non-Brokered Private Placement of up to 21,428,571 Units at $0.07 per Unit (“Unit”). Each Unit will be comprised of One (1) fully paid common share and One (1) Share Purchase Warrant, exercisable to purchase One (1) further Common Share at the price of $0.12, exercisable for a period commencing on the date of issue and expiring on December 31, 2026. Closing of the Placement, which may take place in tranches, will be subject to receipt of subscriptions for a minimum of $500,000 and a number of other conditions, including without limitation the receipt of all relevant regulatory and Stock Exchange approvals or acceptances. Qualified Agents may receive commissions in respect of subscriptions introduced by them by way of cash equal to 6% of funds so introduced, and issuance of agent’s warrants (“Agent’s Warrant(s)”) equal in number to 6% of the number of units so subscribed for. Each Agent’s Warrant, which is non-transferable, will be exercisable to acquire one Unit at $0.07 per Unit, at any time during the period of two years following the Closing.

The Company also announces, further to its press release dated June 16, 2023, that it is making an Application to the TSX-V for Acceptance of the proposed amendment to the terms of 17,495,472 share purchase warrants (“2020 Warrants”) issued in April, May, and July 2020 in connection with Private Placements completed at that time. Pursuant to Acceptance by the TSXV during 2022, the Expiration date of the 2020 Warrants was extended to December 31, 2023. Subject to, and conditional on Acceptance by the TSX-V, the Company will amend the Exercise Price the 2020 Warrants from $0.20 to $0.14, and will further extend the Expiration Date of the 2020 Warrants to June 30, 2024. Each of the 2020 Warrants is exercisable to purchase one common share from the Treasury of MedX.

About MedX Health Corp.:

MedX, headquartered in Ontario, Canada, is a leading medical device and software company focused on skin health with its SIAscopy® on DermSecure® telemedicine platform, utilizing its SIAscopy® technology. SIAscopy® is also imbedded in its products SIAMETRICS®, SIMSYS®, and MoleMate®, which MedX manufactures in its ISO 13485 certified facility. SIAMETRICS®, SIMSYS®, and MoleMate® include hand-held devices that use patented technology utilizing light and its remittance to view up to 2 mm beneath suspicious moles and lesions in a pain free, non-invasive manner, with its software then creating real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. These products are cleared by Health Canada, the U.S. Food and Drug Administration, the Therapeutic Goods Administration and Conformité Européenne for use in Canada, the U.S., Australia, New Zealand, the European Union, Brazil and Turkey. Visit https://medxhealth.com.

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 release.

This Media Release may contain forward-looking statements, which reflect the Company’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties.

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