MedX Health to price C$2 million private placement of units

By Devika Patel

Knoxville, Tenn., May 13 - MedX Health Corp. said it plans to conduct a C$2 million private placement of units.

The company will sell units at a price to be determined in the context of the market.

Each unit will consist of one common share and one half-share warrant, with each warrant exercisable for two years at a price to be determined at pricing.

Research Capital Corp. will be the agent. Settlement is expected June 9.

Proceeds will be used to expand MedX's distribution network; support its marketing program; continue development of new dental, rehabilitation and wound care products; undertake research and development for wound care products; to repay term debt and for working capital purposes.

Based in Mississauga, Ont., MedX Health develops phototherapy medical devices.

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