Deal sells units of shares, warrants at C$0.10 each via agent Trapeze
By Devika Patel
Knoxville, Tenn., May 12 - MedX Health Corp. said it raised C$350,000 in the second tranche of a C$2 million private placement of units. Trapeze Capital Corp. is the lead agent for the deal, which priced on Jan. 22 and raised C$565,000 on March 19.
The company is selling 20 million units of one common share and one warrant at C$0.10 per unit on a reasonable efforts basis. It sold 5.65 million units in the first tranche and 3.5 million units in the second.
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.
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Issue: | Units of one common share and one warrant
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Amount: | C$2 million
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Units: | 20 million
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Price: | C$0.10
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.20
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Agent: | Trapeze Capital Corp. (lead)
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Pricing date: | Jan. 22
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Settlement date: | March 19 (for C$565,000), May 9 (for C$350,000)
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Stock symbol: | TSX Venture: MDX
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Stock price: | C$0.09 at close Jan. 21
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Market capitalization: | C$5.68 million
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