Non-brokered deal offers units of shares, warrants at C$0.15 apiece
By Devika Patel
Knoxville, Tenn., April 2 - MedX Health Corp. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell units of one common share and one warrant at C$0.15 per unit. The one-year warrants are each exercisable at C$0.25 until May 31, 2013. The strike price is a 51.52% premium to the March 30 closing share price of C$0.165.
Settlement is expected May 31.
"This growth financing will allow MedX to deploy the capital needed to further accelerate our sales and marketing programs in North America, Europe, Australia, and entry into new geographies," president and chief executive officer Steve Guillen said in a press release. "As the leading innovator in this emerging market space, this funding will go a long way in helping us share the company's vision of becoming the premier provider of a better way to identify skin cancer early, without a surgical biopsy, and will give us the ability to immediately implement our ambitious growth plans."
Based in Mississauga, Ont., MedX Health develops phototherapy medical devices.
| Issuer: | MedX Health Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | May 31, 2013
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | April 2
|
| Settlement date: | May 31
|
| Stock symbol: | TSX Venture: MDX
|
| Stock price: | C$0.165 at close March 30
|
| Market capitalization: | C$6 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
