MedX Health Corporation (CVE:MDX) (OTCMKTS:MDXHF) (FRA:9MH) is poised to raise up to C$2.5 million from a private placing.
The medical device and software company will place, with accredited investors, up to around 13.8 million shares at C$0.18 a unit.
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Each unit will comprise one share and one share purchase warrant, exercisable to buy one further share for C$0.25 for two years from issue.
Closing of the placement, which will take place in tranches, will be subject to receipt of subscriptions and a number of other conditions, including regulatory and stock exchange approvals or acceptances.
Also in the statement, the firm said that on May 14, 2021, it closed a first tranche of the foregoing private placement by issuing a total of 5,592,221 units, to raise $1,006,600 from accredited investors.
In connection with this first closing, a cash commission of $60,000 was paid. Following this first closing, the offering remains open for further subscriptions.
MedX, headquartered in Mississauga, Ontario, is focused on skin health with its SIAscopy on DermSecure telemedicine platform.
Contact the author at giles@proactiveinvestors.com