Non-brokered deal sold units of shares, warrants at C$0.065 each
By Devika Patel
Knoxville, Tenn., Sept. 15 – MedX Health Corp. said it raised C$334,750 in the fourth and final tranche of a C$1.5 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, C$165,275 on Aug. 2 and C$439,492 on Sept. 2.
The company sold 23,075,652 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, 6,761,422 units in the third and 5,149,998 units in the fourth and final tranche.
The three-year warrants are each exercisable at C$0.14 until Sept. 15, 2019. 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
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| Amount: | C$1.5 million
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| Units: | 23,075,652
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| Price: | C$0.065
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| Warrants: | One warrant per unit
|
| Warrant expiration: | Sept. 15, 2019
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| Warrant strike price: | C$0.14
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| Agent: | Non-brokered
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| Pricing date: | May 30
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| Settlement dates: | June 6 (for C$560,400), Aug. 2 (for C$165,275), Sept. 2 (for C$439,492), Sept. 15 (for C$334,750)
|
| Stock symbol: | TSX Venture: MDX
|
| Stock price: | C$0.06 at close May 27
|
| Market capitalization: | C$19.39 million
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