Deal sells units of shares, warrants at C$0.10 each via agent Trapeze
By Devika Patel
Knoxville, Tenn., Jan. 22 - MedX Health Corp. said it will conduct a C$2 million private placement of units. Trapeze Capital Corp. is the lead agent.
The company will sell 20 million units of one common share and one warrant at C$0.10 per unit on a reasonable efforts basis.
The two-year warrants are each exercisable at C$0.20. The strike price is a 122.22% premium to the Jan. 21 closing share price of C$0.09.
Proceeds will be used for expansion of marketing efforts and general working capital purposes.
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$2 million
|
| Units: | 20 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Trapeze Capital Corp. (lead)
|
| Pricing date: | Jan. 22
|
| Stock symbol: | TSX Venture: MDX
|
| Stock price: | C$0.09 at close Jan. 21
|
| Market capitalization: | C$5.38 million
|
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