Medworxx Announces Private Placement of Convertible Debenture



    TORONTO, Feb. 2 /CNW/ - Medworxx Solutions Inc. ("Medworxx") (TSXV: MWX)
is pleased to announce that it intends to sell, on a private placement basis,
up to an aggregate principal amount of $400,000 of 14% convertible debentures
maturing February 2011. The convertible debentures are convertible at the
option of the holder into units of Medworxx at a conversion price of $0.10 per
unit, each unit consisting of one common share and one-half of one warrant,
each full warrant entitling the holder to purchase one common share at a price
of $0.12 prior to the maturity date. Finders fees in the amount of 7.5% of the
principal amount raised will be paid to arm's length third parties. The
offering is subject to regulatory approval as well as the satisfaction of
other customary conditions, and securities sold under the offering will be
subject to a statutory four month hold period.
    Medworxx intends to use the net proceeds from the private placement for
working capital, and for general corporate purposes. Closing of the offering
is anticipated as soon as practicable.

    
    About Medworxx:
    ---------------
    
    Medworxx, the makers of strategic software platforms that hospitals use
to communicate, aggregate, and analyze knowledge, has been capturing the power
of hospital knowledge since 2004. Medworxx' products are used by approximately
500,000 users at over 280 hospitals across North America. Headquartered in
Toronto, Ontario, Medworxx trades on the TSX Venture Exchange under the symbol
MWX.

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    Cautionary Note Regarding Forward-Looking Statements
    ----------------------------------------------------
    
    This press release contains forward-looking statements. Often, but not
always, forward-looking statements can be identified by the use of words such
as "plans", "expects" or "does not expect", "is expected", "estimates",
"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 statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Medworxx to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking statements, such as costs of sales, general economic
conditions, the success of marketing and competition from competing suppliers
and businesses. Actual results and developments are likely to differ, and may
differ materially, from those expressed or implied by the forward-looking
statements contained in this press release. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.

    %SEDAR: 00024567E




For further information:

For further information: visit www.medworxx.com, or contact: Medworxx
Solutions Inc., Dan Matlow, Chief Executive Officer, (416) 642-1278, x.311,
dmatlow@medworxx.com

Organization Profile

MEDWORXX INC.

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