MedX Health Corp. reaches agreements to settle debts of $362,078
TSX Venture Symbol: MDX
CUSIP #: 585090
MISSISSAUGA, ON, July 4, 2013 /CNW/ - MedX Health Corp. (TSXV - MDX) announces that it has reached agreement with certain creditors to settle debts amounting to a total of $362,078 by issuance of 3,620,780 Units at $0.10 per Unit. Each Unit comprises one (1) fully paid non-assessable common share in the capital of MedX, issued from its treasury, and one-half (1/2) of a share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one (1) fully paid non-assessable common share from the treasury of MedX during the period commencing on the date of issue and expiring on December 31, 2015 (the "Expiration Date"), at an exercise price of $0.20 if exercised before January 1, 2015, and at an exercise price of $0.30 if exercised after December 31, 2014 and prior to the Expiration Date. These Debt Settlement Agreements are subject to all relevant regulatory and other consents and approvals, including in particular, approval of the TSX Venture Exchange. Shares comprised in the Units, and shares underlying the Warrants comprised in the Units will be subject to resale restrictions of four months and one day from the date of issuance. MedX presently has 41,345,511 common shares issued and outstanding.
About MedX Health Corp.
MedX is a twelve (12) year old Canadian company, headquartered in Mississauga, Ontario (Toronto), and is a global leader in the design, manufacturing and distribution of quality low level laser and light therapy technologies for use in numerous medical settings, including rehab/chiropractic, dental, wound care, and veterinary medicine, providing patients with drug free and non-invasive treatment of tissue damage and pain. MedX laser and light products are FDA approved, Health Canada cleared, and CE Mark approved for use in North America as well as the European Union. MedX Health acquired the worldwide assets of SIMSYS™ and MoleMate™ in June, 2011. For a complete profile of MedX Health Corp. and its products visit www.medxhealth.com.
About SIMSYS™ and MoleMate™ Skin Cancer Imaging
SIMSYS™ and MoleMate™ received approval from Health Canada, and is available for all Canadian physicians and dermatologist. SIMSYS™ and MoleMate™ is also FDA approved for use in the USA and is currently under review for CE approval for use in Europe, the UK, and Australia. For more information log onto: www.simsys-molemate.com and click on 'See More', and see approximately 2mm below the surface of suspicious moles and lesions with additional information and images related to every mole and lesions associated with all types of melanomas and non-melanomas. SIMSYS™ and MoleMate™ is an optical biopsy that uses patented technology that features a hand-held scanner device designed for clinical office use that utilizes light to view beneath suspicious moles or lesions in a pain free, non-invasive manner, creating images in real-time for physicians and dermatologist to evaluate all types of moles or lesions within seconds, providing images that can reveal if a mole or lesion is benign, or something more serious, often eliminating the need for skin biopsies, resulting in less pain, scarring, and expense. Physicians and dermatologist interested in learning more should contact MedX Health Corp. or log onto www.simsys-molemate.com.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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 press release.
SOURCE: MedX Health Corp.For further information:
Louie Canitano / President and Chief Operating Officer
MedX Health Corp. firstname.lastname@example.org
Phone: (905) 670-4428
CO: MedX Health Corp.