Medworxx nixes C$2.5 million units' sale, replaces it with C$4.2 million deal

By Devika Patel

Knoxville, Tenn., July 2- Medworxx Solutions Inc. said it will take in C$4.2 million in a private placement of units. This deal will replace a C$2.5 million units' sale the company priced on May 8.

The company will sell units of one common share and one half-share warrant through agent Loewen, Ondaatje, McCutcheon Ltd.

Each whole warrant will be exercisable for two years.

Proceeds will be used for the acquisition of HealthCast Inc., sales and marketing of the Medworxx Emergency Readiness System, additional research and development of the Medworxx software platform, other strategic acquisitions and working capital purposes.

Medworxx is a Mississauga, Ont., capital pool company.

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