MedX Announces Non-Brokered Private Placement of Convertible Debenture Loan Notes

MISSISSAUGA, Ontario--(BUSINESS WIRE)-- MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) is pleased to announce that it is proposing a non-brokered Private Placement to accredited investors of up to $4 million by issuance of up to 80 Convertible Debenture Loan Notes, each with a face value of $50,000 (“Convertible Notes”). The Convertible Notes will bear interest at 6% per year, payable Quarterly, and will mature on December 31, 2023 (the “Maturity Date”). The Convertible Notes may be converted, at the option of the Holder, into units at $0.14 per unit (“Unit”) at any time until the Maturity Date. Each Unit will be comprised of One (1) fully paid Common Share and One-half (1/2) of a Share Purchase Warrant. Each whole Share Purchase Warrant will be exercisable to purchase One (1) further Common Share at the price of $0.20, exercisable for a period expiring on the Maturity Date. Closing of the Placement, which is subject to a minimum subscription of $2 million, will be subject to receipt of subscriptions and a number of other conditions, including without limitation the receipt of all relevant regulatory and Stock Exchange approvals or acceptances. Qualified Agents may receive commissions in respect of subscriptions introduced by them by way of cash equal to 6% of funds so introduced, and issuance of agent’s warrants (“Agent’s Warrant(s)”) calculated by reference to 6% of the funds from subscribers introduced by such Agent. Each Agent’s Warrant, which is non-transferable, will be exercisable to acquire one Unit at $0.14 per Unit, at any time during the period up to the Maturity Date.