TORONTO, Feb. 20 /CNW/ - Medworxx Solutions Inc. ("Medworxx") (TSXV: MWX)
is pleased to announce that it has completed a $410,000 aggregate principal
amount private placement of its 14% convertible debentures maturing on
February 20, 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.
A finder's fee of $24,375 was paid to an arm's length third party in
connection with the private placement.
Medworxx intends to use the net proceeds from the private placement for
working capital, and for general corporate purposes. Securities sold under the
offering are subject to a statutory four month hold period.
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 more than
500,000 users at over 280 hospitals across North America. Headquartered in
Toronto, Ontario, Medworxx trades on the TSX Venture Exchange under the symbol
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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,