MISSISSAUGA, Ontario–(BUSINESS WIRE)–MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) is pleased to announce that it has completed the Initial Closing of the Non-brokered Private Placement to accredited investors announced in its Press Release dated July 25, 2025. The Initial Closing comprised the issuance of 7,033,000 Units (as described below) and raised cash proceeds of $527,500. No commissions were paid and no Agent’s Warrants (as described below) were issued in respect of the Initial Closing. Securities issued are subject to a regulatory “hold” period of four months and one day from the date of issuance. Further Closings are anticipated following this Initial Closing, subject to relevant regulatory acceptance. Under this Non-Brokered Private Placement, the Company intends issue of up to a maximum of 33,333,334 Units at $0.075 per Unit (“Unit”) to raise a Maximum amount of $2,500,000. Each Unit is comprised of One (1) fully paid common share and One-half (1/2) of a Share Purchase Warrant; each whole Share Purchase Warrant (“Warrant(s)”) will be exercisable to purchase One (1) further Common Share at the price of $0.10, during the period of one year commencing on the date of issue. Further Closing(s) of the Placement will be subject to receipt of further subscriptions and a number of other conditions, including without limitation the receipt of all relevant regulatory and Stock Exchange approvals or acceptances. It is anticipated that, subject to compliance with relevant regulatory provisions, certain Insiders will participate in this Placement, in which case the Company will rely on exemptions from formal valuation and minority shareholder approval requirements set out in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Qualified agents will receive a cash commission equal to 8% of the gross proceeds received by the Company from the sale of the Units to subscribers introduced by such agent(s) and agent’s warrants (“Agent’s Warrant(s)”) equal to 8% of subscriptions introduced by such agent(s). Each Agent’s Warrant, which will be non-transferable, will entitle the holder to acquire, at the price of CAD$0.09, a unit, comprised of One (1) fully paid Common Share and one-half (1/2) of a non-transferable agent’s share purchase warrant; each whole agent’s share purchase warrant (“Agent’s Share Purchase Warrant”), will entitle the holder to acquire one additional Common Share at the price of CAD$0.10. The Agent’s Warrants and any Agent’s Share Purchase Warrants that may be issued pursuant to exercise of an Agent’s Warrant, if not exercised, will expire one year following the date of issuance of the original Agent’s Warrant.
The Company further announced today that, subject to acceptance by the TSX-V, the ultimate Closing Date for the non-brokered Private Placement, will be extended to November 7, 2025. The Company has already received Conditional Acceptance for the placement from the TSX-V, but closing for the full amount of the proposed Placement has been delayed.
Funds raised in this Placement will be directed towards continuing development of the Company’s leading edge SIAscopy® on DermSecure® telemedicine platform, building out the launch of its technology into the occupational health marketplace, and general corporate purposes.
About MedX Health Corp.:
MedX Health Corp., headquartered in Ontario, Canada, is a leader in non-invasive skin assessment and teledermatology. Its proprietary SIAscopy® technology, integrated into the DermSecure® platform, enables pain-free, accurate imaging of skin lesions for rapid dermatologist review. These products are cleared by Health Canada, the U.S. Food and Drug Administration, the Therapeutic Goods Administration and Conformité Européenne, for use in 38 territories worldwide including Canada, the U.S., Australia, New Zealand, the United Kingdom, the European Union and Turkey. MedX’s advanced telemedicine platform enables healthcare professionals to quickly and accurately assess suspicious moles, lesions, and other skin conditions through its proprietary imaging technology, SIAscopy®, and its secure, cloud-based patient management system, DermSecure®.
Visit: https://www.medxhealth.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This Media Release may contain forward-looking statements, which reflect the Company’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties.
Contacts
MedX Health Corp.
John Gevisser, CEO – MedX Health Corp.
[email protected]
(+1) 905-670-4428
