Proceeds to expand commercialization plans
MISSISSAUGA, ON, Aug. 5 /CNW/ - MedX Health Corp. (TSXV: MDX) ("MedX" or
the "Company") announced today the closing of a non-brokered private placement
of 4,300,000 common shares at a price of $0.25, for gross proceeds of
CAD$1,075,000. Of this, 2,000,000 shares were issued upon conversion of
certain third-party debt. The proceeds from the financing will be applied to
achieve MedX's goal of expanding its commercialization plans.
The securities sold under the Private Placement are subject to
restrictions on resale for a period of four months from the date of closing.
"We are well on our way to efficiently closing out this current round of
financing as we continue to grow our product line and business opportunities,"
said Steve Guillen, president & chief executive officer. "Our commitment to
become a global leader in low level laser therapy remains focused on expanding
our markets internationally via new distribution channels and novel product
technology. This financing puts us one step closer to that goal," said Mr.
About MedX Health Corp.
MedX is a leading North American developer and manufacturer of low-level
laser medical devices, including dental, rehabilitation and wound care
products. MedX is the world's only company focusing on developing and
delivering a broad cross-section of technologies and products involved in
healing using light therapy. MedX is committed to advocating for and bringing
the non-invasive, drug-free healing nature of light to people seeking relief
from pain and other physical ailments.
MedX's strategy is to build upon its success in bringing relief of
symptoms in a non-pharmacologic manner in the rehabilitation market through
key partnerships, acquisitions, strong patent protection as well as developing
and commercializing advanced products in the dental and wound-care markets
that will position the company to increase revenue. In addition, MedX plans to
accelerate the development of a new product aimed at the rapidly-growing wound
care market: its "Photobandage", a bandage technology that allows a wound to
be bathed in light, designed to enhance the healing process. The Company
intends to license this new technology to one or more major wound care
companies for further development of marketing and sales.
The TSX Venture Exchange does not accept 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
For further information:
For further information: Steve Guillen, President & CEO, Phone: (905)
826-0766, Email: email@example.com; Nelson Smith, Taddle Creek Capital,
Phone: (416) 565-7518, Email: firstname.lastname@example.org