SOURCE: MEDX Health Corp.

MedX Health Corp.

July 15, 2015 16:19 ET

MedX Health Corp. Announces $500,000 Debt Financing

MISSISSAUGA, ON--(Marketwired - July 15, 2015) - MedX Health Corp. ("MedX" or the "Company") (TSX VENTURE: MDX) announced that it has completed a $500,000 term loan with a party related to a Director of the Company.

The loan is for three years, with an 8% interest rate paid quarterly, and no principal payments to maturity. The Company has the option to repay the loan at any time without penalty. The lender has the option of requiring the principal portion to be repaid in monthly installments to maturity, if certain financial targets are not being met. The debt will be secured by a general security agreement.

"This funding provides working capital for the company, and will allow us to accelerate the implementation of additional sales initiatives as well as add to our product offering," commented Rob von der Porten, CEO.

About MedX

MedX, headquartered in Mississauga, Ontario, is a leading medical device company focused on skin cancer; it manufactures and distributes SIMSYS™ and MoleMate™, hand-held devices that use patented technology utilizing light and its remittance to view beneath suspicious moles and lesions in a pain free, non-invasive manner, creating real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. The devices are sold to physicians and clinics, as well as being deployed in drugstore settings where the images are sent remotely to dermatologists who perform a diagnosis. These products are Health Canada, FDA (US), ARTG and CE approved for use in Canada, the US, Australia and Europe. MedX also designs, manufactures and distributes quality low level laser and light therapy technologies for use in numerous medical settings, approved in major jurisdictions, providing drug free and non-invasive treatment of tissue damage and pain. For more information and a complete profile of MedX and its products visit www.medxhealth.com.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

  • For further information:

    Robert von der Porten
    President and CEO
    MedX Health Corp.
    investor@medxhealth.com
    Phone: 905 670 4428