By Sheri Kasprzak
New York, Aug. 25 - MedX Health Corp. said it plans to raise up to C$5 million and at least C$3 million in a private placement of units.
The company plans to sell a maximum of 5 million and a minimum of 3 million units at C$1 each.
The units are comprised of one share and one warrant. The warrants allow for the purchase of an additional share at C$1.25 each for two years.
The deal is expected to close Oct. 31.
Anchor Securities is the placement agent.
Based in Mississauga, Ont., MedX Health develops phototherapy medical devices. The proceeds from the offering will be used for product development, sales and marketing expansion, debt repayment and working capital.
| Issuer: | MedX Health Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$5 million (maximum); C$3 million (minimum)
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| Units: | 5 million (maximum); 3 million (minimum)
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| Price: | C$1
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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$1.25
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| Placement agent: | Anchor Securities
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| Pricing date: | Aug. 25
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| Settlement date: | Oct. 31
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