MedX Health Corp. Closes Non-brokered Private Placement

MISSISSAUGA, ON, Nov. 2, 2011 /CNW/ - MedX Health Corp., (TSXV.MDX) announced today they have closed on a non-brokered private placement of $243,000.  If the maximum investment of this convertible redeemable note is converted at $0.10 in Year 1 and $0.25 in Year 2 this would result in a maximum of 2,430,000 common shares of MedX Health Corp.  This convertible redeemable note pays 10% interest in arrears every six months from the Closing Date.  The interest will be paid in cash and the maturity date is two (2) years from the Closing Date.  The proceeds from the financing will be used for general working capital purposes.  The number of fully diluted MedX Health Corp. shares outstanding is now 37,236,453.

All securities issued in connection with this financing will be subject to a four-month hold period which will expire March 2, 2012.

About MedX Health Corp.

MedX is a global leader in both a drug free, non-invasive low level laser and light therapy for tissue repair and pain relief and skin imaging technologies.  MedX Health Corp. acquired the worldwide assets of MoleMate (trademarks, IP, contracts) in June, 2011.  MoleMate is a non-invasive, pain-free skin imaging device which uses light to look 2mm below the surface of the skin, enabling physicians to quickly scan suspicious moles, so they will be able to tell patients in an accurate and timely manner whether treatment is required, or reassure them that their mole is benign.  MoleMate is FDA approved and is now available for sale to physicians in the US.

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.

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information may include statements regarding the Company's future plans, objectives, performance, growth, profits, operating expenses or its underlying assumptions. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of MedX to be materially different from those expressed or implied by such forward-looking information, including uncertainty of successful development of new products, uncertainty of successful manufacturing or marketing of products, uncertainty of commercial acceptance of products, uncertainty concerning governmental regulation, dependency on key employees and relationships, rapid technological changes, foreign currency fluctuations. MedX does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE MedX Health Corp.

For further information:

Contacts:

Investors:

Steve Guillen
President and Chief Executive Officer
MedX Health Corp.
Phone: (905) 670-4428
info@medxhealth.com

Profil de l'entreprise

MedX Health Corp.

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