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MISSISSAUGA, ONTARIO--(Marketwired - March 19, 2014) - MedX Health Corp. ("MedX" or the "Company") (TSX VENTURE:MDX) announces that it has closed on a first tranche of a private placement, as previously announced on January 22, 2014. Trapeze Capital Corp., acted as lead agent (the "Agent"), to raise gross proceeds of up to $2.0 million, from accredited investors, on a reasonable efforts basis through a private placement of Units. The first tranche which was closed today, raised gross proceeds of $565,000 to its treasury by issuance of 5,650,000 units, comprising 5,650,000 common shares and 5,650,000 share purchase warrants ("Warrants") at $0.10 per unit. Each Warrant entitles the holder to purchase one additional common share during the period expiring March 19, 2016, at $0.20 per share. The securities issued through the private placement were subscribed for by accredited investors, and are restricted from trading before July 20, 2014. At closing, MedX paid the Agent a cash commission of $24,200, and issued 452,000 broker warrants to the Agent. Each broker warrant will be exercisable at $0.10 to acquire a unit comprising one common share and one share purchase warrant exercisable to acquire an additional common share from treasury at an exercise price of $0.20; the broker warrants and the share purchase warrants underlying the broker warrants will expire on March 19, 2016. Any shares issued on exercise of the broker warrants or the share purchase warrants underlying the units in the broker warrants will be restricted from trading until July 20, 2014. |
