Non-brokered deal sells units of shares, warrants at C$0.065 each
By Devika Patel
Knoxville, Tenn., Sept. 2 – MedX Health Corp. said it raised C$439,492 in the third tranche of a C$2 million non-brokered private placement of units. The deal priced for between C$500,000 and C$1.5 million on May 30 and raised C$560,400 on June 6 and C$165,275 on Aug. 2, for a total of C$1,165,168 raised thus far.
The company is selling 23,076,923 units of one common share and one warrant at C$0.065 per unit. It sold 8,621,540 units in the first tranche, 2,542,692 units in the second and 6,761,422 units in the third.
The three-year warrants are each exercisable at C$0.14. The strike price is a 133.33% premium to the May 27 closing share price of C$0.06.
Proceeds will be used for development of product and marketing initiatives and general corporate expenses and working capital.
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$1.5 million
|
| Units: | 23,076,923
|
| Price: | C$0.065
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.14
|
| Agent: | Non-brokered
|
| Pricing date: | May 30
|
| Settlement date: | June 6 (for C$560,400), Aug. 2 (for C$165,275), Sept. 2 (for C$439,492)
|
| Stock symbol: | TSX Venture: MDX
|
| Stock price: | C$0.06 at close May 27
|
| Market capitalization: | C$9.09 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.
